Trump 'could give UK special exemption from tariffs' when he becomes President

10 November 2024, 00:38

Donald Trump 'could exempt Britain from his tariffs', sources close to the President-Elect have said.
Donald Trump 'could exempt Britain from his tariffs', sources close to the President-Elect have said. Picture: Alamy

By Chay Quinn

Donald Trump 'could exempt Britain from his tariffs', sources close to the President-Elect have said.

Listen to this article

Loading audio...

Sources close to Mr Trump have told the Telegraph that the UK could be exempt from the tariffs which formed the basis of his economic platform.

It comes after Government officials were reported to be taking advice on the possible impacts on the UK economy if Donald Trump imposes tariffs.

The president-elect has previously said that he would increase rates on goods imported into the US from around the world by 10%, rising to 60% on those which come from China.

Read More: 'Tariffs can fracture the global economy': Bank of England governor warns against trade barriers after Trump win

Read More: Trump threatens Mexico with 100% tariffs unless it cracks down on border crossings

Officials at the Department for Business and Trade have commissioned advice and forecasts on a number of economic scenarios that could result from the second Trump presidency.

Former President Donald Trump speaks at campaign rally in Hialeah, Florida on November 8, 2023.
The president-elect has previously said that he would increase rates on goods imported into the US from around the world by 10%, rising to 60% on those which come from China. Picture: Alamy

A Government source said: "As anyone would expect, we monitored the US election campaign closely and made sure we were well prepared for any outcome.

"We will continue to monitor developments, take advice and build relationships with counterparts to ensure we are placing Britain in the best possible position.

"We look forward to working closely with President Trump's team to strengthen UK-US trading relations to support businesses on both sides of the Atlantic."

Meanwhile, former UK ambassador to the US, Lord Kim Darroch has said that he expects Mr Trump would carry out his "threat" of tariffs.

Writing in The Observer newspaper on Sunday, Lord Darroch said: "I think Trump will impose tariffs on all US imports immediately and say 'If you want them lifted, offer me something to rebalance trade'.

"The EU will almost certainly retaliate; and the UK will face a difficult decision. Do we match EU retaliatory tariffs? Or do we seek a bilateral deal, like a free trade agreement?"

Kemi Badenoch, the leader of the Conservative Party has said that the return of Mr Trump to the White House is a "golden opportunity" for Britain to secure a trade deal with the US.

Writing in The Sunday Telegraph, she said that the Conservatives worked on a deal in 2020 that has was "left on a shelf" when Joe Biden entered office but is "ready to be dusted off".

London, UK. 6th Nov, 2024. Prime Minister, Keir Starmer, leaves Number 10 to go to Parliament for Prime Ministers Questions
Government officials were reported to be taking advice on the possible impacts on the UK economy if Donald Trump imposes tariffs. Picture: Alamy

There are fears about the impact tariffs could have to economies across the globe but, on Friday, New Jersey Democrat governor Phil Murphy said that he thought there could be a "lane" for the UK when it comes to trade with the US.

Speaking to journalists, he offered an optimistic assessment of what a Trump presidency could mean for British exports.

"I'm sure you are concerned about tariffs, the bilateral relationship," he said.

"If I had to speculate I would say there's a lane for the UK.

"There's less of a lane for the EU and Nato.

"There's a lane for the UK to be determined."

More Latest News

See more More Latest News

Trump smiles from the White House on "Liberation Day."

'Liberation Day' explained: What are Trump's tariffs and how will they impact the UK?

The blurry thieves stole £3,000 worth of cigarettes and vapes.

Police release CCTV after thieves steal £3,000 of vapes - but images leave the public calling for 'the ghostbusters'

Julie Goodyear

Julie Goodyear's husband shares rare photo of Coronation Street star two years on from dementia diagnosis

: An aerial view shows the scorched graveyard around a church following a large blaze the previous day, on July 20, 2022 in Wennington, Greater London

Londoners urged not to have barbecues this weekend amid soaring temperatures 'because of wildfire risk'

Lord Sugar labels Trump tariffs 'a disaster' as Apprentice star teases potential US Presidential meeting

Lord Sugar labels Trump tariffs 'a disaster' - as Apprentice star teases potential US Presidential meeting

Mother and two children struck and killed by a vehicle in Brooklyn, New York: driver operating suspended license

Husband left 'utterly bereft' after Brit mum and two daughters killed in New York car crash

The Nintendo Switch 2 will release on June 5, 2025

Nintendo Switch 2: Exciting reveal, but why is it more expensive here?

BRITAIN-FUNERAL-POLICE

Funeral director charged with 64 offences including fraud, theft and preventing 30 lawful burials

swallow-tail

Brits urged to 'stop mowing lawns' amid 'national butterfly crisis' with more than half of species in decline

Kyle Kitchen, 38, murdered eight-week-old Primose Kane

Dad who murdered daughter by violently shaking her as baby is jailed for life

Buildings that were destroyed during the Israeli ground and air operations in Gaza

Israel expands ground attack on Gaza to seize 'large areas' - despite pleas from hostage families

Douglas Clifton Brown, 56, tried to kill his estranged wife

Old Etonian who tried to murder his estranged partner by throwing her down a 240ft well is jailed for 24 years

Kaliyah Coa, 11, was reportedly down at the water when she was 'swept away'

Pictured: Missing 11-year-old 'swept away' while paddling in the River Thames

Hot cross buns could be scarce this Easter as farmers continue to protest against Rachel Reeves' 'tractor tax'.

Hot cross bun shortage looms as farmers escalate 'tractor tax' protests

Tanesha Melbourne-Blake was shot

Teenage girl shot dead during gang 'ride-out' following social media humiliation

Mother and two children struck and killed by a vehicle in Brooklyn, New York: driver operating suspended license

Brit mum and daughters, eight and five, killed in crash by driver who said 'I have the devil in me'