Paul Ashworth, the chief North America analyst at Capital Economics, estimated that the UK would be the fourth most impacted country if Mr Trump's regime imposes the minimum WTO tariffs across the board added to each nation's VAT rate.
A waiting game on tariffs is beginning to play out between the UK and the United States on tariffs, amid warnings that Donald Trump's latest strategy could hit the UK especially hard.
Sir Keir Starmer also spoke to Mr Trump on Thursday afternoon by phone, with a Downing Street spokesperson saying the conversation happened during a meeting between the prime minister and the president's special envoy to the UK, Mark Burnett.
Mr McFadden told Sky News that the government policy is not to react to every announcement Mr Trump makes.
Mr Trump's latest announcement was made just before Mr McFadden spoke to Sky News.
