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UK-US Trade Deal Spared From Trump's 15% Tariff Hike

Yahoo Finance •
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Britain's government says President Trump's new 15% global tariff will not derail the majority of its UK-US economic deal, according to Prime Minister Keir Starmer's spokesman. The announcement came as trade minister Peter Kyle discussed concerns with U.S. Trade Representative Jamieson Greer about business uncertainty.

Britain had negotiated a 10% reciprocal tariff rate last year, but Trump's promise to reimpose higher levies threatens to increase duties on certain goods. The UK government expects ongoing discussions with U.S. officials this week, though officials refused to rule out retaliatory measures. Global Trade Alert estimates Britain will be among the countries most impacted by the latest tariff changes.

While the government says the ruling won't affect the majority of trade under the deal, including tariffs on steel, pharmaceuticals and cars, businesses remain concerned about potential trade war escalation. Starmer's spokesman emphasized that companies don't want to see increased trade tensions, but noted that all options remain on the table as negotiations continue.