Businesses in Oxfordshire are “deeply worried” about Trump’s tariffs, says MP
An Oxfordshire MP is urging the Government to impose measures of their own.
A local MP says businesses in Oxfordshire are “deeply worried” about the impact of US President Donald Trump’s tariffs on British goods and is urging the Government to impose measures of their own.
The US President last night signed an executive order imposing a 10% tariff on all goods sent to America
In the announcement at the White House, Donald Trump held up a chart detailing the “worst offenders” – including China who will see imports charged at 34%.
Trump claims "trillions" of dollars from the "reciprocal" levies he was imposing on others' trade barriers would provide relief for the US taxpayer and restore US jobs and factories.
‘I hope we will find ways to persuade him to back off this new trade war’
Calum Miller, MP for Bicester and Woodstock is urging the Government to consider “retaliatory measures of our own”.
Mr Miller is also the Foreign Affairs spokesperson for Liberal Democrats, he said: “Trump's announcement has launched a global trade war, and it's not one that anyone other than the US wanted. It will do great damage to businesses and jobs in the United Kingdom, and we need to everything in our power to try to get them to back away from this damaging tax.”
He added: “Many businesses and many workers in Oxfordshire will be deeply worried about the news from the White House. I think the important thing to remember is just how unpredictable Donald Trump is. It's not entirely clear that he will maintain these tariffs. I'm sure he's loving the moment of having the world's attention on him. But when that moves off, he may well decide to remove some of these tariffs. So, whilst it's deeply worrying, I very much hope that we will find ways to persuade him to back off this new trade war.
Mr Miller also says Donald Trump “respects other strong countries and so meeting his threats with some retaliatory measures of our own, or at least the threats of those measures is the best way to get his attention and to make him focus on the real cost to the US of his proposed approach.”
‘Best route to economic stability is a negotiated deal with the US’
Business Secretary Jonathan Reynolds told MPs that businesses will be asked for their view on how they will be hit by any UK measures striking back at Mr Trump's global trade policy.
Ministers have said they will keep working towards a trade deal with the US, but Sir Keir Starmer stressed that "nothing is off the table" in terms of a response.
Addressing the Commons on Thursday, Mr Reynolds said: "It remains our belief that the best route to economic stability for working people is a negotiated deal with the US that builds on our shared strengths.
"However, we do reserve the right to take any action we deem necessary if a deal is not secured.