April was a bad time for Britain’s economy. Trump’s tariffs are a big reason why
CNN
Britain’s economy shrank by the most in nearly two years in April, when President Donald Trump’s tariffs also caused UK goods exports to the United States to fall by a record amount.
Britain’s economy shrank by the most in nearly two years in April, when President Donald Trump’s tariffs also caused UK goods exports to the United States to fall by a record amount. Gross domestic product contracted by an estimated 0.3% that month – after expanding 0.2% in March – according to the Office for National Statistics, the sharpest month-on-month decline since October 2023. The drop was largely due to a contraction in the services sector, which took a knock after the government ended a tax break for some home buyers. But Trump’s trade war also played a part. Rachel Reeves, Britain’s finance minister, told the Sky News broadcaster Thursday that April had been a “challenging month.” “There was a huge uncertainty about tariffs… If you dig into those GDP numbers today, (we see) exports weakening and also production weakening because of that uncertainty in the world around tariffs,” she said.
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