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2 weeks ago | 
telegraph.co.uk | Matt Oliver |Eir Nolsøe
While Mr Trump has temporarily paused the most aggressive tariffs on America's trade partners, Britain and other countries still face a 10pc base levy of all goods and 25pc tariffs on cars, steel and aluminium. The president of the world's largest economy has vowed that something "major" is coming for pharmaceuticals, which would impact some of Britain's most valuable companies like AstraZeneca.
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1 month ago | 
telegraph.co.uk | Chris Price |Eir Nolsøe
Thanks for joining us. Business confidence has plummeted to its lowest levels since Liz Truss's mini-Budget crisis as Donald Trump's trade war deepens. The Institute of Chartered Accountants in England and Wales (ICAEW) said Labour's tax raid and US tariffs were to blame.
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1 month ago | 
telegraph.co.uk | Szu Ping Chan |Eir Nolsøe
"We're talking about hundreds of billions or even trillions of dollars, even for a few basis points here and there," said Mr Koutny. By contrast, Vanguard believes the UK offers an opportunity for investors, as Mr Koutny praised the Bank of England's decision last week to delay an auction of long-term debt. He added that a move by the Debt Management Office (DMO) to shift away from long-term gilts in the Spring Statement showed policymakers were listening to investors' needs.
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1 month ago | 
telegraph.co.uk | Eir Nolsøe |Samuel Montgomery
More than a fifth of Coventry's exports are sold to the US, the highest in Britain. The West Midlands city is home to the headquarters of Jaguar Land Rover, which immediately suspended shipments to the US after Trump's tariffs took effect. Some 22.4pc of working-age people in Coventry are classed as being economically inactive, meaning they are neither in work or job-hunting. This is higher than the national average of 21.2pc. Blackpool also ranks highly among places directly exposed to the tariffs.
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1 month ago | 
telegraph.co.uk | Eir Nolsøe |Louis Goss
Donald Trump's tariffs will tip the world's largest economy into recession, America's biggest investment bank has warned. Investment bank JP Morgan has torn up its growth forecasts for the US, after global stocks tumbled and wiped more than $5 trillion (£3.8 trillion) off America's most valuable companies in only two days.
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1 month ago | 
telegraph.co.uk | Eir Nolsøe |James Titcomb
Other smaller countries that trade in diamonds have also been hit by with huge tariffs. Lesotho's key export to the US is diamonds but Trump has hit the poor African country with a 50pc import duty, the highest announced on Wednesday. Much to the relief of Ozempic users, pharmaceuticals were spared in the barrage of tariffs.
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1 month ago | 
telegraph.co.uk | Eir Nolsøe |Hannah Boland |Christopher Jasper
Guillaume Faury, Airbus's chief executive, said last month: "It is really an integrated ecosystem across the North Atlantic and we believe tariffs in this industry would be lose-lose." An Airbus spokesman said the company was assessing the likely impact of tariffs on its operations and supply chain, and working with US airline customers "to evaluate how best to navigate these evolving conditions." The company said it remains committed to its US and Canadian plants, having made "significant...
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1 month ago | 
telegraph.co.uk | Eir Nolsøe |Samuel Montgomery
Car industry insiders have warned that there may be job losses as a result. Manufacturers have focused on exporting customised, high-value cars to the US in the wake of Brexit. Brands including Rolls-Royce, Jaguar and Aston Martin are among the most exposed. Other industries at risk include pharmaceuticals. Britain exported £8.8bn of pharmaceuticals to the US in 2023, including medicines and vaccines.
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1 month ago | 
telegraph.co.uk | Eir Nolsøe |Pui-Guan Man
The warning comes at a time when the housing market has been struggling to recover, as high borrowing costs continue to weigh on buyers. House prices unexpectedly fell last month, with the rush to beat the stamp duty rise failing to offset the drag from high interest rates. Figures from the Bank of England show that mortgage approvals fell for the second time in a row in February, falling by 600 to 65,000.
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1 month ago | 
telegraph.co.uk | Szu Ping Chan |Tim Wallace |Eir Nolsøe
In a further blow to Ms Reeves, the Resolution Foundation warned that Britain was facing a "disaster of a decade" on living standards as it suggested Labour had betrayed its poorest voters with welfare cuts. Andrew Goodwin, from Oxford Economics, said the Chancellor was likely to be forced into further action this autumn, through more tax rises or changes to her self-imposed borrowing rules.
