9 March 2018

  |  CBI Press Team

News

Our comments on President Trump's tariffs

The President’s proposed measures are deeply concerning for firms in the UK, close trading partners and across supply chains.

Our comments on President Trump's tariffs

Ben Digby, CBI International Director, said:

“The President’s proposed measures are deeply concerning for firms in the UK, close trading partners and across supply chains.

“Overproduction can distort the global market and erode the level playing field that business depends on to stay competitive. But this must be addressed in a calm, collaborative and focused way, as there are no winners in a trade war.

“The proposed measures could lead to a protectionist domino effect, damaging firms, employees and consumers in the US, UK and many other trading partners. We have written to Secretary Wilbur Ross [Secretary of Commerce] and look forward to continuing discussions with the US Administration on the details of these plans.

“The United Kingdom and the United States have long enjoyed a prosperous trading relationship. The UK is the largest foreign investor in America, and British companies support over 1 million jobs in the States, stretching from Alaska to New York.

“In a global economy where supply chains and information span many borders, it’s important for businesses on both sides of the Atlantic that we continue to bring down barriers to trade, including tariffs, market access limitations, lengthy customs processes and regulatory challenges.”