UK Expands Export Finance Support by £20 Billion to Counter US Tariffs

Chancellor Rachel Reeves unveils measures to aid businesses and pursues tariff exemptions in continued negotiations with the US.

The UK government has announced an additional £20 billion in export finance support, raising UK Export Finance’s total lending capacity to £80 billion.
Up to £10 billion of the new funding is earmarked specifically for businesses facing short-term challenges due to US tariffs.
Small and medium-sized enterprises will gain access to loans up to £2 million, with an additional £500 million allocated to expand loan guarantees via the British Business Bank.
US tariffs imposed by President Trump, including a 10% baseline and 25% on certain goods, have significantly disrupted global trade and UK businesses.
Chancellor Rachel Reeves is set to continue negotiations in Washington to seek a potential exemption from US tariffs and advocate for a more balanced global trade system.