British export to the US has reached its lowest level in three years in view of Donald Trump Powerful Tariff,
Despite a fall of 13.5 percent Very acclaimed US-UK trade agreementThe worst costs are designed to protect businesses from the worst.
Minister is now facing calls to secure A part of the deal that is still outstanding, steel and aluminum, which still put 25 percent levy on exports to the US.
The British Chambers of Commerce (BCC) said that comprehensive tariffs have slapped 10 percent of goods from most UK sectors, from food and drinks to chemicals.
Comparing the goods exported in June in three months with the same quarter a year ago, the BCC stated that the sales were £ 2BN lower, which was a fall of 13.5 percent year-on-year.
Conclusions also come as new official figures that uncertainty caused by tariffs, as well as other factors, means that the UK’s economic growth in the second quarter of this year slowed down.
National statistics office (ONS) said that GDP increased by 0.3 percent for the quarter, after an increase of 0.7 percent in the first three months of the year.
However, the figure was widely stronger than the level of 0.1 percent expected by economists.
William Bain, head of trade policy in BCC, said the impact Tariff “It was clearly being felt by companies exporting America”.
“This was the first full quarter of ‘mutual’ American tariffs, adding additional 10 percent to the UK sectors ranging from food and drinks to chemicals.
“The UK trade deal needs to improve possibilities in complete implementation with the US, especially for steel and aluminum items,” he said.
“The agreement should be a platform to discuss further tariff reforms with the US, especially in goods areas where there is very little competition on production.
He also asked the ministers to focus on implementing areas of trade strategy that can increase goods export sales and growth, maintaining the rate of progress in the business of services. ,
chairman Tusrap And PM finally Signed US-AK Agreement To reduce trade obstacles on goods when found in G7 in Canada in June.
But The deal failed to include carving-out for the steel industry, Which is still facing a 25 percent gain on goods entering America.
Industry experts and unions have called for scrapping them as soon as possible, amid warning they are threatened to jobs and livelihoods.
But there are fears that the Transport Secretary said that the work to remove the tariff will continue on “days, weeks and months”.
In April, Parliament gave government emergency powers British steel And continue production after Chinese owners, Jingye, proposed to shut down two blast furnaces and other major steelmaking operations of the Scuntorpe site. But its future is still uncertain.
The Treasury was approached for comment.