Faisal Islam: The UK's Trump trade deal no longer looks world-beating
While the US tariffs imposed on the UK are effectively unchanged, other countries now have a better deal.
By BBC News
The UK’s trade deal with Donald Trump no longer looks as favourable as it once did, after the US imposed new tariffs on dozens of trading partners while the UK’s tariff rate stayed at 10%. BBC economics editor Faisal Islam said that while Britain has not been hit with extra tariffs, other countries have now ended up with a better deal.
According to the BBC report, the new US tariffs were announced on Thursday and came into force as the previous temporary levies were due to expire. The UK government said there was “no change” to the tariff rate facing UK businesses, and that the UK remained on a 10% tariff rate with preferential access under its agreement with the United States.
The report said the US levies apply to around 60 countries, including the UK, but that Britain is not facing additional tariffs under the latest announcement. It also said the US has recognised the steps the UK says it is taking on forced labour, which is why no extra tariff was added for UK goods.
Britain’s position now appears less distinctive because the EU and other trading partners have secured arrangements that are now comparatively better than the UK’s, according to the BBC analysis.