Bank of England Governor Andrew Bailey urged the United States on Wednesday to settle its concerns about the global economy through dialogue rather than the kind of import tariffs that U.S. President Donald Trump has imposed this week.

Donald Trump’s trade war will have a ‘substantial’ impact on the UK and global economies, the Governor of the Bank of England has warned.Andrew Bailey told MPs that Britain must ‘dig in’ after tariffs levied by the US President on America’s major trading partners sparked tit-for-tat retaliation.