UK’s Hammond says trade war would be “disaster” for U.S.: CNBC


LONDON (Reuters) – British finance minister Philip Hammond said on Thursday that the prospect of a trade war would be a disaster, especially for the United States.

Britain’s Chancellor of the Exchequer Philip Hammond delivers a speech at the Annual Mansion House dinner in London, Britain, June 21 2018. REUTERS/Henry Nicholls

“I very much hope that we can avoid a full scale trade war (because) that would be a disaster for everyone, not least for the United States,” Hammond said in an interview with CNBC.

“But what I can say is this: whatever happens the UK will remain an outspoken proponent of open markets and free trade, low tariff barriers and low non-tariff barriers.”

Reporting by Andy Bruce; editing by Guy Faulconbridge

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