German Bank: Trump's new global tariffs may suppress the pound, causing losses for the UK.

Thu Lan Nguyen of Deutsche Bank stated in a report that President Trump's announcement of imposing a 15% unified global tariff to replace the tariff rejected by the Supreme Court could have negative implications for the British pound. The UK may now face higher tariffs than the 10% previously negotiated with the US. Nguyen suggested that the future of the pound and other currencies will depend on how existing trade agreements can be maintained. The uncertainty of these reintroduced tariffs could be another reason for the Bank of England to further lower interest rates, temporarily consolidating the weakness of the pound. The pound is flat at 1.3485 against the US dollar. The euro is down 0.1% against the pound, at 0.8735 pounds.