US-UK trade deal 'good news' but still means higher tariffs, Bank of England governor says
LONDON, May 9 (Reuters) - Bank of England Governor Andrew Bailey said the trade deal concluded between the United States and Britain on Thursday was a good thing but still left tariffs on most British exports to the U.S. higher than they were before last month.
"It's good news in a world where it will leave the effective tariff rate higher than it was before all of this started," he said in a question and answer session at an economics conference in Reykjavik.
Bailey also reiterated that Britain's economy was highly exposed to the global economy and much would depend on what deals other countries concluded with the United States.
Bailey's remarks were similar to those he gave at a press conference on Thursday, when a deal appeared imminent but the details had not been announced.
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