The Trump administration’s decision to impose additional tariffs on imports into the US is bad economics, motivated at least in part by bad politics. TTo recap, the new “reciprocal tariffs” will be set according to the 2024 figures for US trade in goods - completely ignoring trade in services. They are based on a formula … Continue reading Trump’s ‘reciprocal tariffs’ make no economic sense
Tag: Brexit
10 things to look for in the Spring Statement
Here is a short post on some key points to watch for tomorrow when the Chancellor presents her ‘Spring Statement’ to the UK parliament (at about 12.30). More questions than answers, I’m afraid, but I will follow up once we know more! 1. The immediate outlook for growth. The OBR is widely expected to halve … Continue reading 10 things to look for in the Spring Statement
Trump’s new tariffs are bad for the US – and probably for Britain too
A recent survey by the pollsters Opinium found that, whatever they may think of Donald Trump as a person, a majority of Brits actually like his policies. In most cases this made sense. But the new-found enthusiasm for trade protectionism is worrying and, if I may say so, distinctly un-British. The downsides are already showing. … Continue reading Trump’s new tariffs are bad for the US – and probably for Britain too
The UK probably should rejoin the Pan-Euro-Mediterranean Convention – but it’s not a big deal either way
First, the short version… In my opinion, the UK should rejoin the Pan-Euro-Mediterranean Convention, which would allow British firms to use components sourced from anywhere within this zone and still qualify for tariff-free trade with other members. This would not be a ‘betrayal of Brexit’, despite what some are claiming. Crucially, the PEM Convention is … Continue reading The UK probably should rejoin the Pan-Euro-Mediterranean Convention – but it’s not a big deal either way
Plain-speaking Economics 