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%.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.