Has Trump just undone the Chancellor's Spring Statement?

The News Agents

Global

Daily News, News, Government, Politics

4.2 • 4.3K Ratings

🗓️ 27 March 2025

⏱️ 36 minutes

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Summary

No sooner had the Chancellor sat down after her Spring Statement than Donald Trump announced to the world that he was slapping 25% tariffs on all cars imported into America. Car manufacturers are livid - and scared. And the OBR has warned that if the US goes further and imposes blanket tariffs, they could wipe out any short term prospect of growth in the British economy. With her room for manoeuvre already tight, could Rachel Reeves now have to rip up her latest plans? Are tax rises on the way? And is the UK going to be knocked about at the whim of Donald Trump and whatever he decides next?

Later, as the White House condemns criticism of the Yemen Signal security breach as “a witch hunt“, could it be that the US President is actually feeling more than a little bruised at the fallout from the revelations?

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Transcript

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0:00.0	The Newsagents podcast is brought to you by HSBC UK, opening up a world of opportunity.
0:09.4	This is a global player original podcast.
0:12.8	They've taken so much out of our country.
0:15.5	Friend and foe, and frankly, friend has been oftentimes much worse than foe.
0:20.5	And this is very modest. And what we're
0:23.5	going to be doing is a 25% tariff on all cars that are not made in the United States. If they're
0:29.3	made in the United States, it's absolutely not tariff. We started off with a 2.5% base,
0:34.4	which is what we were at, and we go to 25%.
0:38.5	And barely moments after Rachel Reeves has left the dispatch box, Donald Trump is sitting
0:45.6	behind the Resolute Desk announcing that 25% tariffs will go on cars exported to the United States, of which the UK is a big exporter.
0:59.0	The timing was so bad, it almost feels deliberate.
1:03.4	Donald Trump's announcement of tariffs will essentially wipe out any form of growth the UK can have next year if he's serious about them coming in.
1:15.2	So are we planning our own policy? Or is the UK basically a satellite to whatever Donald Trump says now?
1:23.5	Welcome to the newsagents.
1:28.3	The news agents. It's John with a slightly hoarse voice. Welcome to the newsagents. The Newsagents.
1:29.3	It's John with a slightly hoarse voice.
1:32.3	It's Emily with a slightly horse head.
1:34.3	A horse head.
1:36.3	No, not a horse head.
1:37.3	An H-O-A-R-S-E head?
1:40.3	Yes. Where's your voice gone?
1:41.3	I don't know. I did something the other night.
	...

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