US tariffs rise to 15% after Donald Trump announced a new global levy. The increase comes shortly after the Supreme Court struck down his previous import taxes. Initially, Trump proposed a 10% tariff, but he later raised it, effective immediately, via a post on Truth Social.
The British Chambers of Commerce warned that US tariffs rise could further harm UK businesses. William Bain, head of trade policy at the BCC, expressed concern about the impact on UK exports. He highlighted an extra 5% tariff on many goods, except items covered under the Economic Prosperity Deal.
Bain added that higher tariffs would damage trade, affect US consumers, and weaken global economic growth. He stressed that both sides need clarity and certainty to protect businesses. “Higher tariffs are not the way to achieve that,” he said.
The UK Government reiterated that it expects Britain’s privileged trading position with the US to remain. Officials confirmed previous agreements, including exemptions for steel, cars, and pharmaceuticals, are expected to continue.
Questions remain over whether the agreements negotiated by Prime Minister Sir Keir Starmer with Trump still stand. However, officials believe the new 15% rate will not significantly impact most UK trade with America.
A Government spokesperson emphasized that the situation is for the US to determine. They added that the UK will continue to support businesses as details emerge. “We will work with the administration to understand how the ruling will affect tariffs for the UK and the rest of the world,” the spokesperson said.
Analysts warned that US tariffs rise could prompt uncertainty for exporters. The change may influence pricing, supply chains, and investment decisions. Consequently, companies may need to adapt quickly to maintain competitiveness.
In summary, US tariffs rise to 15% marks a major development in global trade policy. British businesses now face added challenges, while officials continue dialogue with US counterparts to protect economic interests.
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