UK Suspends Tariffs to Support Businesses Amid US Trade War

In response to the escalating trade war initiated by U.S. President Donald Trump, UK Prime Minister Keir Starmer has suspended import duties on 89 goods, including electric vehicle components and various food items, to alleviate the financial burden on British companies. This move is part of a broader strategy to support businesses impacted by Trump's new tariffs, which include a 10% baseline tariff and 25% levies on steel and automotive industries. The UK government estimates that this initiative could save businesses £17 million annually, potentially benefiting consumers as well. Meanwhile, frustration is growing in the UK over the effects of U.S. tariff policies, which have halved growth forecasts and impacted supply chains. Business Secretary Jonathan Reynolds noted that while retaliation options remain on the table, both sides prefer to avoid such outcomes. As the U.S.-China trade tensions continue, the unpredictability of these tariffs raises concerns about further economic repercussions for the UK.