No 10 ‘wargaming’ retaliatory measures to Trump trade tariffs

A Government source said: “We have had advice on this from day one, including wargaming tariffs. “As anyone would expect, we monitored the US election campaign closely and made sure we were well prepared for any outcome.” “We will continue to monitor developments to ensure we are placing Britain in the best possible position.” It comes despite rumours of Mr Trump being favourable to a trade deal with the UK. Protectionist agenda This week, Rachel Reeves will use a Mansion House speech to argue that free and open trade makes countries richer, in remarks that will be seen as riposte to Mr Trump’s protectionist agenda. Ms Reeves, whose speech is designed to reassure the City that she has a plan to boost growth in the economy, will also argue that forging strong links with other established and fast-growing financial centres will be critical to attracting foreign investment into the UK’s financial services sector. And growth brought about by reform – both of our economy and of our public services.” Mr Farage encouraged Sir Keir to engage in talks to avoid a trade war, telling The Telegraph that Mr Trump would “of course” give Britain exemptions on his planned trade tariffs.