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Trade tariffs could see more firms falling behind on loans
Daily Express
|July 10, 2025
TRADE tariffs could increase the risk of some businesses defaulting on loans while many jobs are exposed to global shocks, the Bank of England has warned.
But households and firms are resilient, it said, and the UK banking system is equipped to support them even if conditions significantly worsen.
The Bank’s financial policy committee's report said there was a high degree of unpredictability about how global trade will evolve.
US president Donald Trump raised tariff rates in April but negotiations over trade deals with countries are ongoing.
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