Donald Trump has launched a sweeping new tariff regime against more than 80 countries, replacing his expiring 10% global duty with levies of 10% to 12.5% — justified under Section 301 of the Trade Act of 1974 and dressed up as a crackdown on forced labour. For the UK, the headline rate barely budges. The problem? The European Union's rate has just dropped from 15% to 10%, putting Brussels on equal tariff footing with London for the first time since the Turnberry...