Trump tariffs: What will immediate impact on UK be?
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How Trump’s tariffs will impact the UK
- US President Donald Trump has announced sweeping tariffs on imported goods, affecting a huge number of countries.
- The UK faces a 10 per cent tariff on all exports to the US, while the EU faces 20 per cent, China 34 per cent, and Cambodia 49 per cent.
- The UK government views the lower tariff compared to the EU as a vindication of its approach to negotiations, potentially saving thousands of jobs.
- The tariffs target various sectors, including steel, aluminium, auto parts, and computers. Experts say they could potentially lead to higher prices for consumers.
- The UK's automotive industry, particularly Jaguar Land Rover, is expected to be significantly affected by the 25 per cent tariff on imported cars, as all of the cars Jaguar Land Rover sells in the US are made abroad.