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Bank of England Warns U.S. Tariffs Threaten U.K. Growth

4/26/2025

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Summary

Story summary

Bank of England Governor Andrew Bailey warned that U.S. tariffs could hinder U.K. economic growth amid a global trade slowdown.
The IMF revised the U.K.'s 2025 growth forecast down to 1.1%, attributing this to tariffs and increasing energy costs.
Bailey acknowledged potential inflation from energy prices but alleviated recession concerns due to recent GDP growth.
The U.K. government is actively seeking a trade deal with the U.S. while upholding its food standards.

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Story summary

Bank of England Governor Andrew Bailey warned that U.S. tariffs could hinder U.K. economic growth amid a global trade slowdown.
The IMF revised the U.K.'s 2025 growth forecast down to 1.1%, attributing this to tariffs and increasing energy costs.
Bailey acknowledged potential inflation from energy prices but alleviated recession concerns due to recent GDP growth.
The U.K. government is actively seeking a trade deal with the U.S. while upholding its food standards.