Devolution, Oil and Tariffs

A new prime minister in Downing Street, renewed conflict between the US and Iran, volatile oil markets and another round of US tariffs: it has been an eventful few weeks for the global economy. Andrew Hunter, Denise Cheok and Suren Vardanyan join Gaurav to assess whether Andy Burnham’s plans for devolution, investment and tax reform can lift the UK’s weak growth prospects. The discussion then turns to the Strait of Hormuz, the fragile flow of Gulf oil and a controversial proposal for voluntary transit payments to Iran. Finally, the team examines the latest US trade measures and the risk of further tariff escalation. The world looks marginally riskier—but economies, particularly in Europe, continue to show a resistance to recession. Questions or Comments, please email us at GEU@Moodys.com. We would love to hear from you. To stay informed and follow the insights of Moody's Analytics economists, visit Economic View. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.