Spring statement latest: Bank of England chief calls for economies to ‘come together’ amid Trump’s tariff war

The Bank of England governor, Andrew Bailey, has called for global economic cooperation ahead of the spring statement amidst a mounting tariff war initiated by Donald Trump. Bailey emphasized the need for authorities to work together to ease trade tensions, stating that domestic macroeconomic forces and trade policy can coexist. This comes as the UK is in talks with the US to address the threat of tariffs, with Trump having already imposed tariffs on UK and EU steel and aluminium imports, as well as on other countries, leading to retaliatory measures worldwide.

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