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00:00So today the Institute for Public Policy Research released a survey which warns
00:05that Trump's car tariffs could put 25,000 UK jobs at risk. Do you agree with this
00:14assessment and as you were just talking to me we are already in uncertainty and
00:19this could add to this. How worrying is this for the UK government's growth
00:24plans and also just on a geopolitical scale?
00:29Well I haven't made my own estimate obviously of the number of job cuts that
00:35may come in the car industry. I think that's the worst case scenario. No
00:40company is going to make immediate decisions. They'll see how things pan out
00:45over the following weeks. We are in the whole process of bilateral trade talks
00:51with the US. So while that is a lovely figure to put in the headlines of
00:56journalistic comments, it's only a worst-case scenario. But you're right it
01:01comes at a time when the UK is struggling to produce economic growth.
01:06The British Chancellor of Exchequer, the Treasury, are looking for ways to
01:13increase UK growth and this is not a measure that will aid that whole process.
01:20There are all sorts of other things going on at the same time to mend the
01:24British economy.