The UK could face a £22bn hit to its exports if Donald Trump imposes a blanket 20% tariff on all imports into the US, according to a new analysis.
UK exports to the world could fall more than 2.6% due to lower trade with the US and knock-on effects globally, economists at the University of Sussex's Centre for Inclusive Trade Policy (CITP) said.
This fall could happen if the President-elect went through with his repeated campaign promise 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%.