Trump tariffs to cause “unspeakable losses”, British business groups warn | Donald Trump’s news

London, United Kingdom – Louise Verity, a 42 -year -old businessman from Northampton, the city in the center of England, is worried about Trump’s tariffs since she first heard them brewing in January.

Her business, in accounting, sells literary gifts for book lovers – prints, art, stickers that are all about classical literature.

More than 60 percent of her sales are in the United States. They will now be hit by a 10 percent tariff that is gentler than taxes on other countries, but is still serious enough.

“I am constantly following the news, refreshing all night, waiting to see what would happen,” she told Al Jazeera.

“The 10 percent tariff in the UK could be worse. The way I feel is, if it were 30 percent, I would give up and wait for it all collapse. Still, trying to absorb. The other thing is what we say to our customers? I have no useful information.”

She expects big companies to simply transfer the extra cost to consumers, something she feels incapacitated. “I can’t tell everyone, ‘Don’t worry, we’ll be fine. “Because I don’t know,” she added.

Verity is like thousands of small and large business owners around the world, trying to make mathematics to see if they can keep above the water, despite the tariffs, President Donald Trump’s attempt to increase US finances at the seeming price for almost everyone else.

Tina McKenzia, chairman of the policy of the Federation of Small Enterprises, said: “The news of 10 percent tariffs in the UK and US trade is a major blow to SMEs. Currently, 59 percent of small British exporters are sold in the US market. Tariffs will cause inexhaustible losses for small businesses trying to trade.

She predicted that the decline would “sprinkle growth, harm the opportunities, and the global economy would be serious.

The condemnation has been widespread.

Australia’s professor of economics, Steven Hel, said after discussing “seemingly rational arguments” in favor of Trump’s tariff strategy, “we could not find such arguments that would be in agreement. There is no grand plan that would have any sense.”

This mood resonated with many other observers, including Swissquote Bank iPek Ozarddeskaya senior analyst, who said to customers: “Trump’s tariff statement was worse than expected.”

“The universal tariff was set up to 10 percent – according to hopes – but the tariffs set for key trading partners are much higher than 34 percent for China, 20 percent to Europe and about 24 percent of Japanese imports. Britain is less damaging to 10 percent, while Vietnam and Lesoto are the hardest impact at the rate of 46 percent.

Theoretically, countries can now agree with the US to lower their rates.

The market response to all of this has been poor and predictable. The markets fell quite a bit everywhere. The price of oil, which is a proper estimated global growth rate, fell below $ 70 a barrel.

Nike shares, which make many of her shoes in Vietnamese factories, fell by 14 percent when tariffs were announced.

“Short -term disorder is inevitable”

Initially, there was some relief that Britain had a lower tariff level compared to the EU.

Some considered this to be evidence that the United Kingdom had a closer relationship with Washington, with particular increasing the tension between the Trump administration and the EU.

But Simon Francis, a London -based stock exchange, Panmure Liberum, said, “That doesn’t mean it has everything to do with the use of the long division that an eight -year -old could do and there is no special British roasting.”

MorningStar’s main capital strategist, Michael Field, said “the 20 percent tariff for all European goods is potentially devastating to many sectors if these tariffs are really permanent and fixed in nature. This is unlikely, given that administrative officials are intimidated.

There are talks about governments that need small businesses, especially to protect jobs and wages.

“Consumer goods, health care and industry sectors will be one of the sectors most influenced by new measures,” Field said. “Worse will probably be the EU’s reaction and possibly the US government contradicted with contradiction. All of this will cause harm to export and importing the company. In the coming weeks, it will be said whether this event has the potential to transform global trade or, as many have predicted, must do a deal.”

British Prime Minister Keir Starmer has said he would “keep a cool head.”

Can he make Trump any cooler look like a long shot.

One old economic cliché is that when the US sneezes, the rest of the world is cold. Supposedly, how to describe how the recession in the US is pretending to be outward.

But among the places facing the 10 percent tariff are Heard and McDonald Islands in Antarctica. As they are inhabited by only penguins, it seems unlikely that the US will increase much tax on additional taxes.