EU External Trade: USA:Written question - HL9861

Asked on: 24 July 2018
Department for International Trade
EU External Trade: USA
Lords
To ask Her Majesty's Government what assessment they have made of the effects on the British economy of a trade war between the EU and the United States.
A
Answered by: Baroness Fairhead
Answered on: 08 August 2018

Increased tariffs can have damaging impacts on our domestic industries as well as on consumers. Further escalation of trade tensions between the EU and US would be damaging to both the EU and US economies.

The Government has been engaging directly with the US administration, including through 5 Ministerial visits to the US, meetings with senior administration figures and the recent visit of President Trump to the UK.

We welcome the agreement between President Juncker and President Trump to open negotiations to avoid further escalation that would harm businesses and consumers.

Share this page