President-elect Donald Trump's proposed trade tariffs could prove boon for the U.K., with analysts pointing to potential exemptions, economic upswings and the likely resumption of trade deal talks.
President-elect Donald Trump 's proposed trade tariffs could prove boon for the U.K., with analysts pointing to potential exemptions, economic upswings and the likely resumption of trade deal talks.
"The U.K.'s benefit is it's not in the trade war crosshairs. It just doesn't have that same need to level the playing field and level the trade imbalance," Jonathan Pingle, chief U.S. economist at UBS, told CNBC Tuesday. In fact, the U.K. could actually expect to see lesser levies, or indeed immunity, from the plans, according to Capital Economics' chief U.K. economist, Paul Dales.
When contacted by CNBC, the Trump campaign did not directly comment on the possibility of special trade allowances for the U.K., nor a wider trade deal. However, a transition spokeswoman said Trump's election win had given him a "mandate to implement the promises he made on the campaign trail." "I don't think Trump cares about the U.K. exercising its Brexit freedoms, but I do think it's an attempt to divide and conquer Europe," Mujtaba Rahman, Eurasia Group's managing director for Europe, told CNBC by phone.Nonetheless, trade negotiators may have a steep hill to climb when it comes to securing a full bilateral trade agreement, with analysts voicing skepticism that there will be enough political will on either side to push a deal through.
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