The UK government recently announced trade agreements with India and a framework with the US, marking its first deals since 2022. These developments come alongside a Bank of England rate cut aimed at fostering business investment. While the government views the announcements as historic, some experts remain skeptical about their actual economic impact. Despite optimism, there are concerns regarding the broader economic environment, including the effects of US-China relations on UK growth. The announcements may also position UK leaders to pursue stronger ties with the EU for economic improvement.
It's middling, he said, referring to the combined effect of the week's trade announcements. None of this is economically transformational but was anything you could have done ever going to be?
Opponents of tariff barriers are now crossing their fingers for a thawing of relations between the US and China, which would avert broader ripple effects depressing UK growth.
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