Analysts say that the trade environment facing companies in the UK, USA, and Europe is much more severe than it was three months ago.

Beth McKay, an international trade lawyer at Denton Law Firm, said: "Whether it's a 10% or 15% tax rate, the trade environment facing British, American, and European companies is much more severe than it was three months ago." This assessment reveals the fundamental restructuring that the global trade landscape is undergoing.