Implications of Higher US Tariffs for the UK Economy

Ahmet Kaya ()

National Institute of Economic and Social Research (NIESR) Topical Briefings, 2024, issue 16

Abstract: Since Trump's victory in last month's US presidential election, discussions around tariffs and their potential impacts have intensified. Some economists argue that tariffs could help reduce the US trade deficit and support domestic production by shifting income from consumers to producers. However, critics, including NIESR, highlight the broader, second-round effects that tariffs may trigger through exchange rates, inflation and interest rates.

Date: 2024-12
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