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US President Donald Trump \ with British Prime Minister Keir Starr in Oval House in Washington, Colombia County, February 27, 2025.
Kevin Lamark | Reuters
In April, the UK economy decreased dramatically when world trade tariffs and domestic taxes began on Thursday.
Last Monthly growth figures from office for national statistics She showed that the UK economy decreased by 0.3% a month in April after 0.2% in March. It was also more than 0.1% of economists expected.
The decline in April occurred when US President Donald Trump announced the world trading tariffs both in trading partners and opponents, creating a wide uncertainty of business.
Monthly data on gross domestic products showed that production and production decreased dramatically in April, while the results of the construction were noted in the ONS, noting that Trump tariffs, which were exported by the UK.
“After increasing for each of the four previous months, the largest monthly drop in records in the US with a decrease in most types of goods after the recent introduction of tariffs,” said Liz McCowun, director of economic statistics on Thursday.
The UK was affected by 10% of the “mutual tariff” by Trump, despite the fact that they have more or less balanced trade relations with the US when it comes to exchange of goods.
However, he escaped slightly compared to other countries, however, a flat 20% extended EU export to the States. Since then, Britain has concluded a trade agreement with the US., Become the first country to do so when trade negotiations continue for others.
Tax climbing
Domestic taxes were also accused of a sharp decline in economic activity. British companies have encountered an increase in national insurance and minimum age growth since the beginning of April, while the temporary tax gap for real estate purchases also ended in March.
In April, 63.5% in the UK, 63.5% in the UK’s residential real estate operations from the previous month, noted ONS, and the buyers seek to complete the purchases before the tax flap was over in April.
UK Chancellor Rachel Rivz called the latest monthly data on growth “clearly disappointed” when it was attracted to its promise to provide an economic “update” for Britain In the state expenses plans She announced on Wednesday.
“GDP moves quite a lot on a monthly basis, but we also know that April was a difficult month,” ” Reivz told Sky News on Thursday.
“There was a huge uncertainty about the tariffs and one of the things when you fall into these GDP numbers today, it is exports of weakening, as well as a weakening of production from the uncertainty in the world around tariffs,” she said.
Brighton, South England, February 18, 2022, when Storm Eunice brought a large wind across the country.
Glin kirk | AFP | Gets the image
A noticeable monthly decrease, which is the initial estimate and can be revised higher or lower, also comes after a marked growth of 0.7% in the first quarter of the year, although economists said it was probably overloading economic activity before Trump’s trading tariffs.
Forecast for the rest of 2025
Economists expect growth to be weak during the rest of the year, and the Bank of England predicts light growth by 1% in 2025.
“April was a disappointing month for the UK economy, judging by the fall of GDP by 0.3% during the month. Mail.
‘After a strong first quarter market weaker jobs and economic uncertainty indicate a more muted rate Weak job data It believes that the risks related to the UK growth prospects are being built.
“The disappointing GDP figure in April increases the growth by 0.1-0.2% in the second quarter, which is 0.7% in comparison with the application of the eyebrows in the first place,” he said.
