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Brexit, Tariffs and China Chill UK Trade Prospects
Brexit, Donald Trump’s tariffs and changing relations with China will hamper British trade growth in the next decade, a new report suggests. UK trade will only grow by 0.7 per cent annually between 2023 and 2033, according to new projections from Boston Consulting Group (BCG), down from a previous estimate of 0.9 per cent. This would see trade growth fall behind domestic GDP growth, which BCG expects to average 1.6 per cent in the decade to 2033, meaning trade is a less significant part of economic activity. Global trade, in contrast, is…