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In this week’s issue of Perennial Gale, I reflect on the global shockwave caused by President Trump’s sweeping new tariffs that swiftly wiped $2.5 trillion off Wall Street and risk tipping the US into recession. While Britain’s 10% tariff hit may seem mild by comparison, our economy is deeply intertwined with global trade – and when others stumble, we fall too. 

The only consolation? Such damaging policies often trigger their own backlash – and perhaps, in time, a renewed embrace of free trade will follow. Britain should look back to its proud legacy on free trade and be unstinting in providing that leadership.

In addition, we bring news that the APPG for Entrepreneurship – of which we’re the Secretariat – is reconstituting itself, our Head of Science and Technology Anastasia Bektimirova became a Fellow of new think tank Centre for British Progress, and we welcomed another Adviser to our own ranks in the form of James Callander.