Trade Tensions Rise Between U.S. and UK

Trade tensions between the UK and the U.S. have spiralled after the UK chancellor, Sajid Javid, took a defiant stance at Davos.

U.S. treasury secretary Steve Mnuchin has threatened new tariffs on UK carmakers after the chancellor defied pressure to cancel a new tax on tech firms.

Mr. Javid said the UK would not back down over the tax, which will hit U.S. firms like Apple, Amazon and Facebook.

A trade deal with the EU would take priority over one with the U.S. after the UK leaves the EU this month, he added.

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