UK draws up list of US products it could hit with tariffs

The UK government is considering retaliatory tariffs on US products in response to new import taxes imposed by President Trump, with a list of goods being drawn up by Business Secretary Jonathan Reynolds. Talks are ongoing with the US to secure a deal to avoid or reduce tariffs, with a 10% tariff currently in place on nearly all UK exports to the US. The UK exported almost £60bn worth of goods to the US last year, mainly machinery, cars, and pharmaceuticals, with a potential worst-case scenario trade war estimated to reduce economic growth by 1%.

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