Shelagh Fogarty 1pm - 4pm
The One Thing Trump’s Tariffs Has Taught Us About Post-Brexit Trade
1 June 2018, 14:47
If there’s one thing Donald Trump’s tariffs has taught us about trade it’s countries are better off together, the Secretary General of the International Chamber of Commerce UK says.
A 25 per cent level on steel imports and 10 per cent tax on aluminium has been imposed by the US on the EU, Canada and Mexico.
The GMB union says the US President’s actions threaten 34,000 UK jobs in the industry.
Speaking to Shelagh Fogarty, Chris Southworth, Secretary General of the ICC UK said recent events should “focus people’s minds” on trade after Britain leaves the EU.
He told LBC: “If there's one thing we can learn from Brexit it is we don't understand trade very well.
“This last month we've had two perfect examples and it's coming from our closest ally of everybody in the world - the US.
“We've had it with Iran, anyone trading with Iran now is now caught under the sanctions and now we've had it again on tariffs and steel and aluminium.
“So this is the real stuff and this is how trade works and you're protected when you're in regional communities, in teams that's why other parts of the world team up for the exact same reason, you're stronger together than you are in your own.”
He finished: “So all I would say is read the news and make a considered judgment of where you think the UK needs to be.”