The United Kingdom was the first to bend the knee to U.S. President Donald Trump and his attempt to bludgeon the global economy into submission.On April 2, with his trademark bombast, Trump declared “Liberation Day” for America, imposing a 10% levy on all imports, with punitive rates climbing as high as 145% for certain countries. In response, British Prime Minister Keir Starmer signed a trade agreement that is a study in shortsightedness.In exchange for tariff relief on cars, steel and aluminum, the U.K. accepted a framework that retains the 10% duty on a wide swathe of British goods that was announced on Liberation Day — amounting to a tax on exporters and a cost borne by consumers. Hardly a win for the U.K.
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