Donald Trump's potential tariffs could deal a £22billion hammer blow to UK exports, new analysis has suggested.
Economists at the University of Sussex's Centre for Inclusive Trade Policy (CITP) predicted the UK could lose 2.6% of all its exports due to lower trade with the US and the subsequent knock-on effects.
The BBC reports the drop could happen if Trump goes through with his repeated campaign vow to levy a 20% tax on all imports, and a 60% tariff on Chinese imports.
The decline in trade would be the equivalent of an annual hit to UK economic output of 0.8%.
In a blog post, researcher Nicolo Tamberi noted Trump's pledges could be a negotiation tactic but warned the "possibility of these tariffs being imposed is certainly there".
The main UK sectors likely to be hit would be fishing, petroleum, and mining, which could see exports fall by around a fifth.
The pharmaceutical and electrical sectors would also be hit.
FTSE 100
The UK's flagship share index, the FTSE 100, was down 68-points at 8,072 shortly after opening this morning.
Brent crude oil futures were down 0.07%, trading at $73.82 a barrel.
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