Major UK export industries 'vulnerable' without US deal

KEY UK industries will be exposed to the worst effects of US tariffs unless a trade pact with Donald Trump's administration is sealed, official data suggests.

- By Mauricio Alencar

Goods trade between America and Britain dropped 3.7% in 2024 compared with the previous year amid fears of a fall in UK exports if higher US levies take effect in three months.

President Trump gave countries other than China, Canada and Mexico a temporary reprieve from higher import tariffs after US Treasury yields spiked and pushed up the cost of borrowing, though 25% remains on cars and steel.

Office for National Statistics figures show machinery and transport equipment accounted for nearly half of all UK goods exports to the US in 2024, valued at £59.3billion.