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US trade deal cuts duty to 10% for 100K UK cars
Business Standard
|May 09, 2025
In what could turn out to be a major upside for UK-based luxury car maker Jaguar Land Rover (JLR), a Tata Motors arm, the US and UK on Thursday announced a trade deal which would now allow UK-based manufacturers to export 100,000 cars to the US with only 10 per cent duty, down from the current 25 per cent.
US is JLR's most important market, accounting for roughly a quarter of its sales. Tata Motors stock price rose in the two trading sessions after the India-UK FTA was announced which would benefit UK car manufacturers with tariffs lowered from over 100 per cent to 10 percent under a quota.
In a press conference in Washington, US President Donald Trump and commerce secretary Howard Lutnik said the decision to lower tariff for 100,000 UK-made cars would protect "tens of thousands of jobs" in the UK.
Diese Geschichte stammt aus der May 09, 2025-Ausgabe von Business Standard.
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