Trump 100% tariff threat & £1bn defence boost
Today’s briefing covers a major trade threat from the US that could impact UK exporters, alongside a significant increase in UK military spending. We also look at reports of a new military call-up in Russia that may impact migrant communities.
UK businesses exporting to the US face the prospect of significantly higher costs after US President Donald Trump threatened a 100% tariff on UK goods. The threat is a response to the UK’s digital services tax—a levy on the revenues of large tech firms like search engines and social media platforms. If enacted, the tariff would double the cost of affected UK products entering the American market.
Following this, Prime Minister Keir Starmer is set to increase the UK's military budget by at least £1 billion more than previously planned. This commitment represents a significant shift in national defence funding.
Meanwhile, for the UK's Russian and Ukrainian communities, President Vladimir Putin is reportedly planning a new wave of military mobilisation, a move said to risk public fury. This process of calling up civilians for active service comes as the flow of soldiers to the conflict in Ukraine has slowed, potentially affecting those with family members in the region.
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