German businesses could set up subsidiaries in UK to do business with the US
The UK and EU should consider closer trade ties in light of US President, Donald Trump’s latest tariff threats, say leading audit, tax and business advisory firm, Blick Rothenberg.
Viktor Gottschlich, a Senior Manager at the firm, said: “The UK and the EU have agreed an ambitious new Security and Defence Partnership this week, but in light of US President Donald Trump announcing 50% tariffs of imported EU goods, the UK and EU should consider even closer co-operation.”
He added: “For now, the UK has not been threatened with higher tariffs. Because of that, the UK might become more attractive for German businesses to setup a subsidiary for business with the US.”
Viktor said: “Higher US tariffs on imports from the EU could mean that the UK will profit from consumer cheaper prices due to excess supply of goods from the EU. But to fully benefit from this, the UK and EU should reduce trade barriers to increase trade even further.”
