UK exports to US fall to lowest level since 2022 as Trump tariffs hit British trade

"New figures from the Office for National Statistics show that the value of UK exports to the US fell by £500 million in September, an 11.4% drop month on month, taking trade back to levels last seen in January 2022. The ONS said exports have "remained relatively low since the introduction of tariffs in April", when the Trump administration imposed a 10% baseline tariff on most UK goods."

"The ONS reported steep falls across key categories: chemical exports dropped by £300 million, while machinery and transport equipment exports fell by £100 million, partly driven by the cyber-attack at Jaguar Land Rover, which halted production for five weeks in September. More broadly, UK trade weakened across global markets. Total goods exports fell by £1.7 billion, or 5.5%, in September, with declines recorded in both EU and non-EU markets."

The Office for National Statistics reported that UK exports to the United States fell by £500 million in September, an 11.4% month-on-month decline returning trade to January 2022 levels. Exports have remained relatively low since the introduction of a 10% baseline tariff on most UK goods in April. An earlier trade agreement removed US tariffs on UK aerospace and cut car duties from 25% to 10%, but demand weakened. Chemical exports declined by £300 million and machinery and transport equipment by £100 million, partly due to a Jaguar Land Rover cyber-attack. Total goods exports fell by £1.7 billion, widening the quarterly goods deficit to £59.6 billion.

Read at Business Matters