As the US imposes new tariffs on various goods, including cars, steel, and aluminum products, UK businesses face uncertainty over their future exports. With nearly £60 billion worth of goods exported to the US last year, Jaguar Land Rover’s decision to pause all shipments is likely to have a significant impact on the UK economy.
The UK government, led by Prime Minister Sir Keir Starmer, has vowed to protect British businesses from the impact of the US tariffs. The move comes as the US has imposed new tariffs on various goods, including cars, steel, and aluminum products.
The UK and US have a long history of trade dating back to the 18th century.
In 1815, the two countries signed the Rush-Bagot Agreement, which demilitarized the Great Lakes and promoted trade between them.
The UK was one of the largest trading partners with the US in the late 19th century, with exports including textiles and machinery.
Today, the UK is the 4th largest export market for the US, with key sectors including automotive, aerospace, and pharmaceuticals.
Starmer has announced that he will continue to seek an economic deal with the US to avoid some tariffs, but is open to state intervention to protect the national interest. He acknowledged that some people may feel uncomfortable about government intervention in the market, but emphasized that the situation requires a flexible approach.
Sir Keir Starmer is a British politician who serves as the Leader of the Opposition and the leader of the Labour Party.
He was born on September 2, 1962, in South London.
A former human rights lawyer, Starmer studied law at King's College London and later earned a Ph.D. from Oxford University.
He was elected to Parliament in 2015 and became Shadow Brexit Secretary in 2016.
In 2020, he succeeded Jeremy Corbyn as Labour Party leader.
‘The situation requires a flexible approach.’ ‘all options remain on the table’ and is willing to use industrial policy to protect British business from the storm.
The UK’s decision to impose tariffs on certain US goods has sparked concerns among businesses. Jaguar Land Rover, one of the UK’s largest exporters, has announced it will pause all shipments to the US as it works to address the new trading terms. This move is likely to have a significant impact on the UK economy, with nearly £60 billion worth of goods exported to the US last year.
Jaguar Land Rover is a British multinational car manufacturer headquartered in Whitley, Coventry.
Founded in 2008, the company resulted from the merger between Jaguar Cars and Land Rover.
With over 40,000 employees worldwide, it produces high-performance vehicles such as the Range Rover and Jaguar F-PACE.
The brand has received numerous awards for its innovative designs and technologies.
In 2019, Jaguar Land Rover announced plans to electrify its entire lineup by 2030, reflecting the industry's shift towards sustainable mobility.
The government’s efforts to strengthen alliances and reduce barriers to trade are aimed at mitigating the effects of the tariffs. The UK has drawn up a list of 400 pages of US goods that could be included in any possible tariff response, with a focus on products that would have a limited impact on the UK economy.
Starmer has taken a cautious approach to the tariffs, emphasizing the need for a cool-headed response rather than immediate retaliation. However, he reiterated that ‘all options remain on the table’ and is willing to use industrial policy to protect British business from the storm.
Liberal Democrat leader Sir Ed Davey has called for the UK to make trade deals with other countries to show ‘bully Trump’ that there are alternatives to trading with the US. Conservative leader Kemi Badenoch has urged Starmer to strike a deep and meaningful trade deal with the US, but emphasized the need to balance growth with standards.
The situation highlights the complexities of global trade and the need for governments to adapt to changing circumstances. As the UK navigates this challenging landscape, it is clear that protecting British businesses from the tariff storm will require a concerted effort from policymakers, businesses, and all stakeholders.
