The “full and comprehensive” trade deal between the US and the UK announced this week by President Donald Trump was none of those things. This rush to demonstrate progress on “deals” reveals a rising desperation within the administration to roll back tariffs before they hit GDP growth and inflation. Media reports suggest that in his meeting with the Chinese this weekend, Treasury Secretary Scott Bessent will offer to lower the headline tariff rate on Chinese imports from 145% to 54%.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services