UK expresses broad concern over Trump's new import tariffs

(MENAFN) The British government and various business organizations on Wednesday voiced widespread apprehension following U.S. President Donald Trump's announcement of a 10% tariff on all goods imported from the United Kingdom. They cautioned that this move could significantly disrupt the existing two-sided trade tie and exert considerable pressure on vulnerable sectors, such as manufacturing as well as small businesses.

In response to Trump's announcement, Business and Trade Secretary Jonathan Reynolds stated that the government would actively pursue further discussions with the United States in an effort to find a resolution to the issue. "We will always act in the best interests of UK businesses and consumers. Nobody wants a trade war," he affirmed.

While the UK received a relatively lower tariff rate of 10% compared to the 20% levied on the European Union and even higher rates on multiple Asian nations, business groups emphasized that even this level of tariffs could impose a substantial burden on British industries.

"There are no winners in a trade war," asserted Rain Newton-Smith, Chief Executive of the Confederation of British Industry. She further commented that Trump's announcement is "deeply troubling for businesses and will have significant ramifications around the world."

Echoing Newton-Smith's sentiments, Stephen Phipson, CEO of the manufacturing group Make UK, described the move as "devastating."

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