Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of new US tariffs on the UK economy.

HMT continuously monitors external developments and potential impacts on the UK economy, but it will not comment on hypotheticals.

The US is one of the UK’s closest partners with a trading relationship worth £304 billion and representing 18% of total UK trade. We look forward to working with the new US administration in office, including on their policy priorities and to improve UK-US trading relations to support businesses on both sides of the Atlantic.