The president-elect’s unpredictability on trade has experts guessing about his impact on the UK economy – but some find glimmers of hope in the gloom

Four years ago, when Donald Trump last occupied the White House, Liz Truss was sent on a ­mission. Carrying a ­bottle of British gin on her flight to Washing­ton, the trade secretary had a gift for her US counterpart to show what Americans were missing out on.

Back then, while still formally a member of the EU, Britain was hit with 25% US import tariffs on distilled spirits as Trump’s administration waged trade battles on multiple fronts, slapping border taxes across a range of goods sold by America’s allies and enemies alike.