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UK Goods Exports to US Sink to Three-Year Low Under US Tariffs

Modest tariff cuts for cars including aerospace parts have failed to offset higher levies on other sectors

A container ship is unloaded at Peel Ports Liverpool container terminal in Liverpool, Britain December 9, 2016. REUTERS/Phil Noble/File Photo
The trade deal agreed by Sir Keir Starmer and President Trump came into force on June 30

Overview

  • Office for National Statistics data show exports to the United States fell to £3.9 billion in June, the lowest monthly total since February 2022.
  • June shipments were £0.7 billion below May and about 20% under the 2024 monthly average after front-loading ahead of US duties.
  • A targeted UK–US trade deal that took effect on June 30 cut high tariffs on cars and aerospace parts but kept a 10% duty on most goods and left steel and aluminium exposed.
  • Machinery and transport equipment exports fell by £0.2 billion in June and one-third of exporters with 10 or more employees reported impacts from the US levies.
  • The British Chambers of Commerce reported a 13.5% year-on-year drop in exports for Q2 and is pressing for further tariff carve-outs to support UK–US trade.