British exports to the United States have decreased significantly, experiencing a 13.5 percent drop, reaching their lowest level in three years. This decline occurs even with a US-UK trade agreement designed to alleviate tariff impacts. UK ministers are urged to finalize parts of the deal still outstanding, especially regarding 25 percent levies on steel and aluminium. The British Chambers of Commerce noted a 2 billion pounds reduction in exports over the last year, contributing to a slowdown in UK economic growth due to ongoing uncertainties and tax increases.
British exports to the US have plummeted to their lowest level in three years, dropping 13.5 per cent despite a US-UK trade agreement aimed at mitigating tariff impacts.
Calls are increasing for UK ministers to address outstanding trade deal components related to steel and aluminium, which currently face a 25 per cent levy.
The British Chambers of Commerce reported a 2 billion pound decline in exports from the UK to the US in the three months to June compared to the same quarter last year.
Overall UK economic growth slowed in the second quarter of this year due to uncertainty from tariffs and other economic factors, including tax increases.
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