A new report warns that Trump’s tariffs could cost the UK up to £22 billion in lost exports, hitting key sectors like automotive and agriculture.
UK – A new report has warned that the tariffs imposed by former U.S. President Donald Trump could cost the UK up to £22 billion in lost exports. The study, conducted by trade experts, highlights the ongoing financial strain caused by Trump’s trade policies, which have led to higher tariffs on a range of UK goods entering the United States.
The report suggests that the UK’s exports, particularly in sectors such as automotive, machinery, and agriculture, have been hit hard by the 25% tariffs on steel and aluminum, along with other duties on consumer goods. As a result, British businesses face increased costs, reduced competitiveness in the U.S. market, and declining sales to one of the UK’s largest trading partners.
In addition to the direct financial impact, the tariffs have complicated the UK’s post-Brexit trade strategy, which was already in flux due to the need to establish new trade agreements with countries around the world. The UK government is reportedly in discussions with U.S. officials to address the issue and seek reductions in the tariff rates, but progress has been slow.
Experts warn that without action, the tariffs could continue to dampen the UK’s economic recovery as it navigates its post-Brexit trade landscape. With Brexit trade negotiations already proving challenging, this new setback could further complicate efforts to build stronger economic ties with the U.S.
Stay tuned for more updates on the impact of Trump’s tariffs and UK trade negotiations on Wrapped Feed.For more details on the report and UK trade relations, visit BBC News.
