The Art Of The Trade Deal

Carl Richardson, Joint Managing Partner – Richardson Capital LLP   The warm sunny weather greeting Rachel Reeves in Washington DC this week contrasted with the somewhat chilly headwinds facing the British economy at present. The International Monetary Fund has downgraded its growth forecasts for this year for the UK from 1.6% to 1.1%, and the Chancellor is right to redouble the Government’s efforts to strike a trade deal with the US in order to avoid the full impact of President Trump’s tariffs. Since they were announced earlier this month, the President’s tariff plans have sent shockwaves through overseas capitals and stock markets, and fear of retaliation has sparked concern for damaging trade wars that could have significant consequences for all of us. Time will tell and a patient approach seems prudent. Yet, it is clear that the Trump Administration is seeking to put the interests and jobs of American manufacturing first by reducing US deficits and reordering the global tradin...