"Under the new plan, a blanket 10 per cent tariff will be imposed on "all or any goods" exported to the US from the UK, Denmark and other European countries from February 1. Trump has also threatened to raise those duties to 25 per cent from June 1 unless negotiations succeed over the US purchasing Greenland, a demand that has already been firmly rejected by Copenhagen and its allies."
"Susannah Streeter, chief investment strategist at Wealth Club, said the move had injected renewed uncertainty into global markets. She described the announcement as "migraine-inducing" for both politicians and companies that have already endured months of tariff brinkmanship. "Just when there appeared to be a lull in the tariff storm, President Trump has whipped up fresh economic chaos," Streeter said. "This is his modus operandi - unleash uncertainty and threats of more onerous measures to coerce nations to acquiesce to his demands.""
The US will impose a blanket 10 per cent tariff on all or any goods exported from the UK, Denmark and other European countries from February 1. Those duties could increase to 25 per cent from June 1 unless negotiations over the potential US purchase of Greenland succeed, despite firm rejection by Copenhagen and its allies. The policy escalates trade tensions and risks disrupting supply chains, denting business confidence and pushing up US inflation. Many firms have already struggled to absorb existing tariffs and have limited capacity to cushion further increases, making higher costs likely to be passed on to customers.
Read at Business Matters
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