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Economy in brief: February 2025

Alpesh Paleja Interim Deputy Chief Economist, CBI

Your monthly guide to the UK economy, giving you a monthly overview of the major trends impacting the UK's main business sectors.

19 Feb 2025, 4 min read

US fires the starting gun on tariffs

In an eventful month for geopolitics, US President Donald Trump levied a series of tariffs in early February. Currently, only those on China are in place (met with limited retaliation), with tariffs on US imports of aluminium and steel due to take effect in March. Media reports suggest that further restrictions on the US’ trading partners are to come.

Our recent note unpacks developments and explores their economic impact. The aggregate effect on the US and global econo

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