tom stevenson, _ the form of inflation. tom stevenson, investment i the form of inflation. tom - stevenson, investment director at fidelity, thank you very much forjoining us. later in the programme we will also hearfrom some later in the programme we will also hear from some small american businesses worried about donald trump's immigration crackdown and how it is affecting them, so stay with us for that. here in the uk, we'll get an update on inflation in just over an hour's time, and it's expected to rise. the bank of england has warned that rising energy costs will help push prices up again, impacting businesses and households. inflation has fallen sharply from the very high levels seen a couple of years ago, but now it seems to be ticking upwards again. at the last reading, prices in the uk rose by 2.5% in the 12 months to december. analysts believe today's figure will show a rise of 2.8% in the 12 months to january. the bank of england expects inflation to keep on rising for months to come at a time when the economy's barely growing, a dangerous combination that econo

earlier i asked tom stevenson, investment director at fidelity, if he'd seen any evidence of manufacturersearly days yet, isn't it? i mean, these things take time, you can't just flick a switch and decide to shift your production from one side of the world to the other side of the world. but, you know, on the tariffs themselves you can absolutely understand what donald trump is doing here, there is a mismatch on the automotive tariffs in particular. europe charges a 10% tariff on us car imports into europe. that is four times as much as the at the same time, pick—up trucks, big vehicles like that, attract a 25% tariff into the us currently, and that is why that part of the market is such a profitable area for the big detroit manufacturers, so you can see why donald trump would want to extend that tariff regime to all cars, to support the us manufacturing of cars. yeah, you are right, facts are facts and there is currently a mismatch in the tariffs on cars imported across the atlantic between america and europe, but worth that means that wednesday night into thursday is frost—free. in fact,