The UK EU loving establishment will conspire to snatch defeat from the jaws of victory over trade with the US. They are already making noises over Online Safety being a red line when it's a main purposes is a mechanism to limit free speech.
On line safety needs to be addressed globally our children and youth are being contaminated and brainwashed and that has feedback into how our society functions so we must hold the line. Everything else can be negotiated and people don't have to but chlorinated chicken if they don't want to.
I’m not sure the American people will want tax cuts funded by tariffs (not sure they will even raise enough to cover the cost of them either) seeing as primarily they voted him in to make them better off. No matter what happens tariffs are going to increase prices for consumers in America - either due to tariffs or if any business is crazy enough to reshore their operations (which will be far more cost;y than overseas). Not everything can be onshored either as some resources are not available so they still need to come in (unless blocked by countries like China have done). Then there’s the impact to the economy from retaliatory tariffs that will hit the US economy by a potentially significant amount (already talk of huge sums to subsidise the agriculture sector). The bit trump ignored with his game show tariffs board was the biggest component of American trade, services, which they run at a surplus to the world. If other countries get smart and start to hit those then the American economy (which is rather dependent on the,) is going to really take a kicking.
As for what the UK should do there is no real simple answer other than absolutely not be part of the USA - I wouldn’t want their bonfire of regulations which are stripping out all consumer protections everywhere. Not all regulations are bad, it’s been shown time and again unrestricted capitalism doesn’t end well. Not sure they will create sustainable growth either (pretty sure the oil industry has no intention to drill baby, drill as they don’t want oversupply).
Personally I think the UK should pivot more to its biggest and nearest trading partners (Europe) and tell Donald to just F Off.
I used to be on team "negotiate with USA and get a trade deal", but Trump doesn't even want free trade in these negotiations, they literally want countries to accept vassalage and start paying tribute. That's straight from the horses mouth (Miran / Navarro), not theoretical.
Adam Smith writing in 'The Wealth of Nations' written in 1776 foresaw that America would become far more successful than Britain and proposed that parliament should remove itself to where the greatest tax revenues were raised. Britain would effectively have become the 1st State. -
“Such has hitherto been the rapid progress of that country in wealth, population, and improvement, that in the course of little more than a century, perhaps, the produce of American might exceed that of British taxation. The seat of the empire would then naturally remove itself to that part of the empire which contributed most to the general defence and support of the whole.”
It would be great for economy of the UK to become a US state, but the UK has nothing to offer the US, whereas Canada has huge natural resources, so it's likely the US wouldn't want us. Our business cycles are more closely aligned with the US than with Europe and I suggested the UK joining NAFTA a few years ago when I gave a presentation at Cass Business School, but everyone laughed thinking it was a joke.
Oh and I’m pretty sure there was no real strategy behind those tariffs. Rumour is that they used ChatGPT to come up with the approach and list of countries, which explains why an island full of penguins got hit with tariffs 😀 https://www.cbc.ca/news/world/trump-tariffs-islands-1.7501898
The UK EU loving establishment will conspire to snatch defeat from the jaws of victory over trade with the US. They are already making noises over Online Safety being a red line when it's a main purposes is a mechanism to limit free speech.
On line safety needs to be addressed globally our children and youth are being contaminated and brainwashed and that has feedback into how our society functions so we must hold the line. Everything else can be negotiated and people don't have to but chlorinated chicken if they don't want to.
Perhaps parents could supervise their children and youth rather than outsource it to the state?
Or maybe you think that it's not your problem and it's too difficult to stop your offspring being brainwashed?
If so, you are going to be super disappointed when you realise what der lange Marsch durch die Institutionen has done to the education system.
I’m not sure the American people will want tax cuts funded by tariffs (not sure they will even raise enough to cover the cost of them either) seeing as primarily they voted him in to make them better off. No matter what happens tariffs are going to increase prices for consumers in America - either due to tariffs or if any business is crazy enough to reshore their operations (which will be far more cost;y than overseas). Not everything can be onshored either as some resources are not available so they still need to come in (unless blocked by countries like China have done). Then there’s the impact to the economy from retaliatory tariffs that will hit the US economy by a potentially significant amount (already talk of huge sums to subsidise the agriculture sector). The bit trump ignored with his game show tariffs board was the biggest component of American trade, services, which they run at a surplus to the world. If other countries get smart and start to hit those then the American economy (which is rather dependent on the,) is going to really take a kicking.
As for what the UK should do there is no real simple answer other than absolutely not be part of the USA - I wouldn’t want their bonfire of regulations which are stripping out all consumer protections everywhere. Not all regulations are bad, it’s been shown time and again unrestricted capitalism doesn’t end well. Not sure they will create sustainable growth either (pretty sure the oil industry has no intention to drill baby, drill as they don’t want oversupply).
Personally I think the UK should pivot more to its biggest and nearest trading partners (Europe) and tell Donald to just F Off.
I used to be on team "negotiate with USA and get a trade deal", but Trump doesn't even want free trade in these negotiations, they literally want countries to accept vassalage and start paying tribute. That's straight from the horses mouth (Miran / Navarro), not theoretical.
We have to pivot to Europe and China / Asia
Too much regulation is stifling growth the extreme stuff needs removing not the foundations like the Health & Safety at Work act.
You can keep track of what they are doing to remove regulation here: https://doge.gov/regulations - there's even a leaderboard :)
Adam Smith writing in 'The Wealth of Nations' written in 1776 foresaw that America would become far more successful than Britain and proposed that parliament should remove itself to where the greatest tax revenues were raised. Britain would effectively have become the 1st State. -
“Such has hitherto been the rapid progress of that country in wealth, population, and improvement, that in the course of little more than a century, perhaps, the produce of American might exceed that of British taxation. The seat of the empire would then naturally remove itself to that part of the empire which contributed most to the general defence and support of the whole.”
It would be great for economy of the UK to become a US state, but the UK has nothing to offer the US, whereas Canada has huge natural resources, so it's likely the US wouldn't want us. Our business cycles are more closely aligned with the US than with Europe and I suggested the UK joining NAFTA a few years ago when I gave a presentation at Cass Business School, but everyone laughed thinking it was a joke.
Excellent article, Oak. Deserves a large audience.
Oh and I’m pretty sure there was no real strategy behind those tariffs. Rumour is that they used ChatGPT to come up with the approach and list of countries, which explains why an island full of penguins got hit with tariffs 😀 https://www.cbc.ca/news/world/trump-tariffs-islands-1.7501898