403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Jaguar Land Rover freezes US shipments following new tariff implementation
(MENAFN) British automotive giant Jaguar Land Rover (JLR) has announced a temporary "pause" of all vehicle shipments to the United States effective this month to "address the new trading terms."
This decision comes in direct response to the 25 percent tariff on car imports imposed on Thursday by the US, a move that has sent ripples of concern throughout global trade networks.
The United States represents the second-largest export market for the UK's car manufacturing sector, trailing only the European Union.
In an official statement, a JLR representative confirmed that the firm was "taking some short-term actions including a shipment pause in April, as we develop our mid to longer-term plans."
The car manufacturer headquartered in Coventry, with additional facilities in Solihull and Wolverhampton, emphasized that the United States represents an "important market for JLR's luxury brands."
In fact, the UK exports more vehicles to the US than any other product. As reported by the UK trade department, the value of this trade reached £8.3 billion over a 12-month period ending in the third quarter of 2024.
This decision comes in direct response to the 25 percent tariff on car imports imposed on Thursday by the US, a move that has sent ripples of concern throughout global trade networks.
The United States represents the second-largest export market for the UK's car manufacturing sector, trailing only the European Union.
In an official statement, a JLR representative confirmed that the firm was "taking some short-term actions including a shipment pause in April, as we develop our mid to longer-term plans."
The car manufacturer headquartered in Coventry, with additional facilities in Solihull and Wolverhampton, emphasized that the United States represents an "important market for JLR's luxury brands."
In fact, the UK exports more vehicles to the US than any other product. As reported by the UK trade department, the value of this trade reached £8.3 billion over a 12-month period ending in the third quarter of 2024.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment