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Trump cuts tariff on UK cars; American carmakers not happy about it
The UK is allowed to export 100,000 cars a year to the US at the lower rate.
The British car industry got a big break from US President Donald Trump yesterday afternoon. Trump and UK Prime Minister Kier Starmer have agreed to a bilateral trade agreement that cuts tariffs on a range of imports from the UK, including pharmaceuticals, aluminum and steel, and cars.
Now, the first 100,000 cars that come to the US from the UK will only be subject to a 10 percent tariff rather than the 27.5 percent they have been under since the start of this trade war in April.
"The car industry is vital to the UK’s economic prosperity, sustaining 250,000 jobs," said Jaguar Land Rover CEO Adrian Mardell. "We warmly welcome this deal which secures greater certainty for our sector and the communities it supports. We would like to thank the UK and US Governments for agreeing this deal at pace and look forward to continued engagement over the coming months," Mardell said.
