Tariffs That Liberate the Wealthy and Shackle the Rest
On April 2, 2025, President Donald Trump declared "Liberation Day," announcing sweeping tariffs designed to bolster U.S. manufacturing.
These include a 34% tax on imports from China, 20% on the European Union, 24% on Japan, and 32% on Taiwan. (Source)
While these measures are marketed as economic self-defence, for Britain—already grappling with post-Brexit trade strains and a sluggish economy—the consequences could be punishing.
The Real Cost of Tariffs: Higher Prices for British Consumers
Tariffs act like taxes on imports—and they don’t stay in the background. Costs are passed along supply chains and ultimately land in the lap of the consumer.
With Trump’s tariffs targeting key UK trading partners like the EU and China, Britain faces the risk of rising prices on essential imports—from electronics to raw materials to basic goods.
In a country already struggling with a cost of living crisis, these new global tariffs will only pour fuel on the fire.
British manufacturers that rely on imported components may face higher costs and thinner margins, which could lead to layoffs, lower pay, or even factory closures.
A Pattern That Protects the Rich and Punishes Everyone Else
Once again, it’s not the wealthy who’ll suffer.
Affluent households can absorb rising costs or stockpile resources. But working-class families—already stretched thin—will feel the squeeze.
As with so many policies sold as “economic realism,” the burden will fall hardest on those with the least power.
And instead of talking about long-term investment, fair wages, or the energy crisis, the UK government risks being dragged into a global economic war that benefits no one but the financial elite.
The Illusion of Economic Nationalism
Trump’s version of nationalism may play well to his base, but the rest of the world gets stuck with the bill.
A tariff war is not a sign of strength—it’s a sign of desperation. And for a UK economy still lagging post-Brexit, the last thing we need is a collapse in international cooperation.
This rhetoric of self-reliance masks a far uglier truth: these policies don’t protect jobs—they destroy them.
They don’t build domestic strength—they make basic goods more expensive and pit working people in different countries against each other, while the rich sit back and profit.
Conclusion: The UK Can't Afford to Look the Other Way
Trump’s tariffs may be American policy, but their fallout is global.
And once again, it will be the ordinary household in Manchester, Birmingham, or Glasgow paying more at the checkout, worrying about job security, and watching government after government ignore the deeper crisis: an economy that works brilliantly for the rich and leaves the rest behind.
We should be asking—who truly benefits from this global game of economic chess?
Because it certainly isn’t the people who do the actual work.