Trump latest: White House says ‘days of US being ripped off are over’ as president prepares to unleash new tariffs

Tariffs could ‘knock out’ UK government’s financial headroom Donald Trump’s impending tariffs could “knock out” the UK’s government’s financial headroom if they were maintained for five years, the Office for Budget Responsibility (OBR) has warned. Professor David Miles, a member of the OBR, told MPs that most possible outcomes of Trump’s proposals were likely to be “negative”. He said that a wider trade war, including one involving levies on British goods, would have a significant impact on UK economic growth and government spending. However, he also said there was a possibility that a “very limited” tariff war involving only a…