Trump’s trade war: trouble ahead for Britain

Trump’s trade war: trouble ahead for Britain

Author: Financial Times April 4, 2025 Duration: 38:19

Donald Trump has shaken up the global economy with his seismic new tariffs this week. UK exports to the US will now face a 10 per cent levy – less than many other countries, but still a major headache for Britain’s fragile economy. Host Lucy Fisher and FT colleagues Robert Shrimsley, Jim Pickard and Peter Foster examine the pain this could inflict at home, and what Sir Keir Starmer can – and should – do in response. Plus, ministers have unleashed a raft of policies aimed at longer-term growth, including the expansion of Luton airport. Are these headline-grabbing gimmicks or sensible tactics?


Follow Lucy on Bluesky or X: @lucyfisher.bsky.social, @LOS_Fisher, Jim @pickardje.bsky.social, Robert: @robertshrimsley.bsky.social, @robertshrimsley, Peter: @pmdfoster @pmdfoster.bsky.social 


Have a question for our panel? Drop us a line at politicalfix@ft.com. Record a voice note with your name and question, and email it to us. 


Want more? Free links: 

Britain avoids worst of Trump’s tariffs, but risks remain for Stamer 

UK will refocus quangos to clear ‘way for progress’, says minister 

UK treasury confident Sizewell C nuclear power investors will soon be ‘teed up’ 

Can Cambridge be a model for kick-starting the British economy?


Sign up here for 30 free days of Stephen Bush's Inside Politics newsletter, winner of the World Association of News Publishers 2023 ‘Best Newsletter’ award. 


Presented by Lucy Fisher. Produced by Lulu Smyth, with help from Fiona Symon. The executive producer is Manuela Saragosa. Original music and mix by Breen Turner. The FT’s head of audio is Cheryl Brumley.


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.


Every Friday, the team behind Political Fix gathers to make sense of the week's political turbulence. This isn't just a recap of headlines; it's a deep, often lively conversation that pulls back the curtain on how decisions are really made in Westminster and beyond. You'll hear from the Financial Times journalists who are actually there, in the corridors and committee rooms, paired with expert voices who provide crucial context. Together, they untangle complex policy debates, analyse the shifting alliances, and question the strategies defining Britain's future. The result is a clear-eyed, authoritative look at the forces shaping the nation, delivered with the FT's signature rigor and insight. Tuning into this podcast feels like gaining access to a private briefing, one that prioritizes substance over noise. It’s for anyone who wants to move past the soundbites and understand the real stories and personalities driving the political agenda. New episodes arrive weekly, offering a consistent and essential perspective on a landscape that never stops moving.
Author: Language: English Episodes: 100

Political Fix
Podcast Episodes
Deals, donations and damage limitation [not-audio_url] [/not-audio_url]

Duration: 39:34
Sir Keir Starmer started the week with not one but two speeches defending his party’s Budget decisions in the wake of claims that chancellor Rachel Reeves had misled the public and fellow MPs about the state of the natio…
Bonus: What does the 2025 Budget mean for your money? [not-audio_url] [/not-audio_url]

Duration: 53:33
It’s been a rollercoaster week for both UK politics and our personal finances, with chancellor Rachel Reeves setting out tens of billions of pounds of tax rises in the Budget. But how will these new taxes be applied and…
Budget bonanza: tax highs and growth lows [not-audio_url] [/not-audio_url]

Duration: 39:53
After months of speculation, predictions and U-turns, Rachel Reeves finally announced her Budget this week. And, symptomatic of the chaos this Budget has wrought, there was one final twist: the entire Budget appeared on…
Coming soon from Tech Tonic: Defying death [not-audio_url] [/not-audio_url]

Duration: 1:30
Investors are spending billions of dollars on novel ways to extend human life through inventive treatments, therapies, and even manipulating our genes. And increasingly, it seems as though anti-ageing efforts have moved…
Boats and the Budget: the battlelines are drawn [not-audio_url] [/not-audio_url]

Duration: 34:28
Home secretary Shabana Mahmood announced a tough set of measures overhauling immigration policy this week, in a bid to deter illegal boat crossings and tackle the thorny issue of asylum seekers that dominates the news ag…
Is Starmer’s leadership on the line? [not-audio_url] [/not-audio_url]

Duration: 32:09
It has been a whirlwind week in Westminster with the BBC in crisis and a supposed challenge to the prime minister’s leadership. So, was there a putative coup from within Keir Starmer’s own cabinet? Is there a “toxic cult…
To tax, but who to tax, that is the question [not-audio_url] [/not-audio_url]

Duration: 34:49
With just three weeks to go until the Budget, Rachel Reeves gave a surprise speech to reset expectations on who she’s planning to hit with more taxes on November 26. This has fuelled further speculation about whether the…
Reeves’ £30bn treasure hunt [not-audio_url] [/not-audio_url]

Duration: 33:44
With a month to go until the Budget, chancellor Rachel Reeves needs to find a projected £30bn to balance the books. And the forecasts are not in her favour, with the OBR’s bigger than expected productivity downgrade deal…
Budget, boats and a by-election [not-audio_url] [/not-audio_url]

Duration: 28:43
Chancellor Rachel Reeves received a rare bit of good news from lower inflation statistics this week, which could reduce government borrowing ahead of the November Budget. But the uphill struggle to improve Labour’s stand…
Britain: a beacon of economic stability? [not-audio_url] [/not-audio_url]

Duration: 33:12
The countdown is on: Chancellor Rachel Reeves has just six weeks to finalise her Autumn Budget before the November 26 deadline. This week, she was in Washington DC for the annual meeting of the IMF, where she hinted at t…