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‘A disaster for everyone’: UK finance minister warns US will not be immune to trade war fallout

  • An escalating tit-for-tat trade dispute between the U.S. and several other major economies has rattled financial markets in recent days.
  • “I very much hope that we can avoid a full scale trade war (because) that would be a disaster for everyone, not least for the United States,” Philip Hammond told India’s CNBC-TV 18 on Tuesday.
  • The U.S. president ratcheted up the trade war rhetoric once again on Monday, following Harley-Davidson’s decision to shift some of its production of motorcycles intended for European customers out of the U.S.

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