£2.7bn UK Exports at Risk from Trump's Tariffs

Donald Trump's reinstated steel and aluminum tariffs threaten over £2.7 billion of UK exports, impacting various sectors, notably aerospace and luxury goods, leading to order cancellations and pricing uncertainties. British manufacturers are grappling with the decision to pass increased costs onto consumers or absorb them, as the tariffs affect a wide range of products, including those containing steel and aluminum. The Economic and Social Research Institute has highlighted the potential negative impact of protectionist measures on the Irish economy, predicting up to a 4% decline in GDP and significant repercussions for the traded sector. Ireland's Finance Minister warned that an escalating trade war could further slow growth and job creation, particularly in export-heavy industries. The overall sentiment among manufacturers and economists is one of caution due to the unpredictable nature of these tariffs and their broader economic implications. This situation reflects ongoing geopolitical tensions and their real-world effects on trade dynamics.