Trump spares EU and UK from higher tariff rates for now

(Graham Lanktree – Politico) U.S. President Donald Trump has U-turned on his threat to raise new global tariffs to 15 percent, sparing Britain and the European Union from higher rates. Tariffs on exports to the United States will, for now, remain at 10 percent under the White House’s new regime, which took effect on Tuesday morning. Trump’s decision not to follow through on the threat means continuity for British businesses. U.K. exports already faced 10 percent duties, plus Most Favored Nation (MFN) rates, under Trump’s “Liberation Day” tariffs. – Trump spares EU and UK from higher tariff rates for now – POLITICO