Campaigners have highlighted the urgency of progressing deeper UK-EU alignment after the Confederation of British Industry (CBI) downgraded their growth forecasts for the UK economy.

Citing the impact of new US tariffs, the CBI indicated that the UK economy is on track to grow by 1.2% this year rather than its previous 1.6% prediction.

Landmark research commissioned by Best for Britain and undertaken by Frontier Economics found that the UK can expect an overall contraction of GDP of up to -0.7% from US tariffs.

This week, the Prime Minister concluded a deal with Donald Trump that will see higher levels of tariffs removed from some UK exports to the US, including cars, steel and aeronautical equipment.

However, with higher tariffs remaining in place for most other UK manufacturing industries which export to the US, campaigners are calling to the Government to urgently deepen ties with the UK’s largest and closest market.

Naomi Smith, Chief Executive of Best for Britain said: 

“Our independent economic research earlier this year warned Trump’s tariff storm would hit the UK economy, with knock-on effects for businesses, jobs and families. Sadly that damaging scenario is proving to be bang on.

“But our analysis also showed how the UK can neutralise the impact of US tariffs, and even shield the EU from the worst of the wreckage: via deeper alignment with our closest and largest market, across all industrial sectors, delivering significant economic benefits right up and down the country.”