Starting today, British car and aerospace manufacturers will benefit from significant tariff reductions when exporting to the United States, thanks to the implementation of a landmark UK-US trade agreement. This move is expected to safeguard thousands of jobs in the United Kingdom.
The UK is the only nation to have secured such a deal with the US, lowering car export tariffs from 27.5% to 10%. This reduction will save manufacturers hundreds of millions of pounds annually and help protect hundreds of thousands of jobs across the sector.
Meanwhile, the aerospace industry will see the elimination of 10% tariffs on key exports such as engines and aircraft components. This change will enhance the competitiveness of firms like Rolls-Royce and support their continued leadership in innovation.
These developments represent a major success for both industries, strengthening the global competitiveness of UK manufacturers, protecting British jobs, and reinforcing the UK’s reputation for innovation and excellence.
"Our historic trade deal with the United States delivers for British businesses and protects UK jobs. From today, our world-class automotive and aerospace industries will see tariffs slashed, safeguarding key industries that are vital to our economy," - stated UK Prime Minister Keir Starmer.
"These changes are a huge win for both sectors and will help ensure UK manufacturers remain globally competitive, protect British jobs and continue to lead in innovation and excellence," he added.
The UK is the only country to be exempt from the global tariff of 50% on steel and aluminium.
As the Prime Minister and President Donald Trump have again confirmed, "We will continue, go further and make progress towards 0% tariffs on core steel products as agreed," the British statement added.
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British Prime Minister Sir Keir Starmer said on Monday (23 March) that Britain must plan for the possibility that the Iran war could continue for some time, and added that he had no "meaningful concerns" about energy supply.
In UK's capital, four ambulances belonging to a Jewish community organisation in north London were set ablaze, police said on Monday, adding that the incident was being treated as an antisemitic hate crime. Chief Rabbi Sir Ephraim Mirvis called the incident "sickening."
President Donald Trump said the U.S. was considering "winding down" its military operation against Iran, as Iran and Israel traded attacks on Saturday (21 March) and Iranian media said the nuclear enrichment facility in Natanz had been attacked.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 21 March, covering the latest developments you need to know.
The pilot and co-pilot of an Air Canada Express regional jet were killed after it collided with a fire truck while landing at New York's LaGuardia airport late on Sunday, in an incident that closed the airport, authorities and U.S. media said.
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Afghan authorities say Pakistani jets entered northern Afghanistan, while Pakistan insists its actions target terrorism, highlighting continued strain after a temporary Eid ceasefire ended.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
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China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
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