0537 GMT - The Confederation of British Industry, a business group, urges the U.K. government to avoid further escalation in its response to President Trump's plan to introduce sweeping tariffs. "A cool and calm reaction from the U.K. Government is the right response: U.K. firms need a measured and proportionate approach which avoids further escalation," CBI CEO Rain Newton-Smith says. "Retaliation will only add to supply chain disruption, slow down investment, and stoke volatility in prices," Newton-Smith says. The U.K. government tried to negotiate a carveout to incoming tariffs through a bilateral economic deal, and negotiating stronger trading relationships with all like-minded partners will be foundational to any success in its efforts to boost economic growth, according to the CBI CEO. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 01:37 ET (05:37 GMT)
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