What to expect on 'World Tariff Day'

Coffee House Shots

The Spectator

News, Politics, Government, Daily News

4.4 • 2.1K Ratings

🗓️ 31 March 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week will see ‘World Tariff Day’ – as those in Westminster are not-so-excitedly calling Wednesday – when Donald Trump will announce a wave of new tariffs. Trump is expected to reveal plans for reciprocal tariffs aimed at addressing what he sees as an ongoing trade imbalance between the US and other countries. He argues that it is ‘finally time for the Good Ol’ USA to get some of that MONEY, and RESPECT, BACK. GOD BLESS AMERICA!!!’.

It had looked as though the Prime Minister’s softly-softly approach to US relations was working and that we might avoid Trump’s levies... that was until the UK was included in the 25 per cent tariff on cars and auto parts imported into the US, along with steel.

There is some hope, however. Donald Trump and Keir Starmer had a call last night in which they spoke about a limited free trade deal. The pair ‘discussed the productive negotiations between their respective teams on a UK–US economic prosperity deal, agreeing that these will continue at pace this week’. It is a knotty situation for the Prime Minister because if he cannot charm his way back into the US’s good books, he will face more calls to get tough on Donald and threaten retaliatory tariffs. What’s the mood in Westminster? And – more importantly – what’s the mood in Washington?

James Heale speaks to Katy Balls and Kate Andrews.

Produced by Oscar Edmondson.

Transcript

Click on a timestamp to play from that location

0:00.0	This episode of Coffee House Shots is sponsored by Alliance Witten Investment Trust. From the OPEC
0:06.0	oil crisis of the 1970s, the financial crash in 2008, to the COVID epidemic and Liz Truss's
0:13.1	doomed premiership. There has been no shortage of economic crises over the last 58 years. And yet,
0:19.6	throughout that time, every single year, without fail,
0:22.8	we've paid out an increased dividend to our shareholders. In fact, Alliance Witten's history
0:28.3	dates all the way back to 1888. And today, we manage around £5 billion in assets.
0:35.5	If you're looking for a less stressful way to invest in stocks and shares,
0:39.2	learn more about Alliance Witten and find your comfort zone.
0:46.3	Hello and welcome to Coffee House Shots. I'm James Seale. I'm joined today by Katie Balls and
0:50.6	Kate Andrews. Now, Katie, we are T-minus 48 hours before World Tariff Day.
0:56.7	What is the mood in Whitehall and particularly the Treasury about the living prospect of sanctions
1:01.1	being slapped on UK trade? Well, of course, it's joined by Kate Andrews, who can give us
1:05.1	a real mood in Washington. But I just think if you think about the different ways they're being
1:09.4	described, it tells something.
1:11.6	So in the US, it's Liberation Day.
1:14.0	That's how John Trump has billed this.
1:16.1	And here it's World Tariff Day.
1:18.2	And when you raise a prospect and you speak to someone in government about it, they start to look a little bit uneasy and stressed.
1:24.0	I think there's something to be said too for we had the spring statement last week, which was difficult for the government.
1:30.0	I think between this week and last week, both were seen as almost equally troubles them.
1:35.1	And potentially this week will have the bigger impact in terms of Rachel Reeves and Kirstama's fortunes.
1:40.7	Now, we know that Donald Trump has already announced various tariffs.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Spectator, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Spectator and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.