💨 Abstract

President Donald Trump announced reciprocal tariffs on major trade partners, including the UK, causing a 10% tariff on UK exports. This may lead to increased prices for certain goods, particularly cars and aluminum items, and potentially affect mortgage interest rates due to inflation. Economists predict a small downward pressure on UK prices due to diverted trade but also expect a broader economic slowdown. Both the EU and China have also imposed tariffs in response.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖