UK seeks business views on response to US tariffs
UK businesses will shape the UK’s response to US tariffs announced overnight, as part of plans announced by the business and trade secretary today.
Following the 10% reciprocal tariffs on a range of products announced by the Trump administration yesterday, UK companies are being invited to give their views on what any future UK response should look like by providing feedback to questions asking them the average value of their US imports, the impact of any possible UK tariffs and how they would adjust to them.
The business and trade secretary has also today published an indicative list of goods imported from the US that may be considered in a future UK response. This makes it clear to businesses that the government would not consider products in the wider public interest issues such as medical supplies and military equipment. It marks the next stage in the government’s ongoing preparations and negotiations with the US on our economic relationship.
Business and trade secretary Jonathan Reynolds said: The best interests of British business has shaped our approach throughout as we prepare for all scenarios, which is why we are asking them for their views on how these tariffs impact their operations and day-to-day lives.
Our cool-headed, pragmatic approach means that talks with the US will continue to reflect our mandate to deliver economic stability, as we press the case for a trading relationship that supports businesses on both sides of the Atlantic, and reflects our Plan for Change and the best interests of the UK public.
The business secretary and ministers across government have been engaging widely with business organisations and companies from across the economy, including sectors like steel, automotive and food, and other companies who export a high number of goods to the US and stand to be affected by any tariffs. They will continue to meet a broad range of businesses in the coming days to provide support and set out the government’s priority of defending the interests of UK industry.
The four-week Request for Input launched today and open until Thursday 1 May continues the government’s engagement with a wide range of UK sectors in response to tariffs, its commitment to working in the national interest and delivering economic stability, and its support of the UK public and businesses as part of its Plan for Change.
Once the Request for Input closes, the government will reflect on the feedback and consider how best to respond.
While preparing for all scenarios, this government’s priority remains strengthening its relationship with the US through an economic prosperity deal, and both countries will continue to have constructive discussions in the coming weeks to agree this.