BoE's Greene warns of inflationary shocks to UK from trade tariffs

EU trade ties 'particularly deep'

Ahead of further US trade tariffs kicking in next month, Bank of England's Monetary Policy Committee member Megan Greene said she is "particularly concerned" about inflationary risks to the UK from global shocks caused by unilateral tariffs.

President Donald Trump's 25% tariff on all steel and aluminium imports will be implemented on 12 March while a 10% tax on all products from China has already taken effect. In a speech at the Institute of Directors on Wednesday (12 February), Greene discussed how the UK could be affected by unilateral US tariffs on a number of countries, including the UK, and the resulting trade fragmentation, noting that the UK is highly integrated into the international trading system, with the US its largest single-country trading partner. BoE's Catherine Mann optimistic on inflation hump "Our tr...