UK Gears Up to Respond to US Tariffs with Industrial Strategies and Trade Initiatives
The government pledges to safeguard British companies from the effects of tariffs, considering state intervention and trade agreements.
The UK government has revealed intentions to implement industrial policy to protect British businesses from the impacts of new US tariffs.
This decision comes in the wake of a series of tariffs introduced by the US, subjecting the UK to a 10% import duty rate, along with a 25% tariff on car exports, as well as steel and aluminium products.
The government is working to fortify alliances and lessen trade barriers, with the Prime Minister engaging with global leaders, including French President Emmanuel Macron, to deliberate on strategies in response to the US tariffs.
A comprehensive 400-page catalog of US products that may face retaliatory tariffs has been released, encompassing 27% of imports from the US. Last year, the UK exported nearly £60bn in goods to the US, with machinery, cars, and pharmaceuticals being prominent exports.
In retaliation to the tariffs, Jaguar Land Rover has halted shipments to the US, while the government is evaluating additional measures, such as tax increases and trade agreements with other nations.
This decision comes in the wake of a series of tariffs introduced by the US, subjecting the UK to a 10% import duty rate, along with a 25% tariff on car exports, as well as steel and aluminium products.
The government is working to fortify alliances and lessen trade barriers, with the Prime Minister engaging with global leaders, including French President Emmanuel Macron, to deliberate on strategies in response to the US tariffs.
A comprehensive 400-page catalog of US products that may face retaliatory tariffs has been released, encompassing 27% of imports from the US. Last year, the UK exported nearly £60bn in goods to the US, with machinery, cars, and pharmaceuticals being prominent exports.
In retaliation to the tariffs, Jaguar Land Rover has halted shipments to the US, while the government is evaluating additional measures, such as tax increases and trade agreements with other nations.
