- British exports to the US have plummeted by 13.5 per cent, or £2bn, in the last three months compared to the same period in 2024.
- This significant decline is attributed to tariffs imposed by US President Donald Trump, which include a 10 per cent levy on most UK goods and a 25 per cent levy on steel and aluminium.
- The fall occurred despite a US-UK trade agreement signed in June, which failed to include carve-outs for the steel industry.
- The British Chambers of Commerce said that the effects of the tariffs are clearly being felt by companies exporting to the US.
- Ministers are now facing calls to secure the outstanding part of the trade deal, particularly concerning the high tariffs on steel and aluminium exports.
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