the winners and losers from Donald Trump’s trade deal with Britain

The United States and the UK leaders praised the signed trade agreement between both sides on Thursday, but experts warned that it still left the UK in the United Kingdom’s higher tariffs in the UK export before taking charge of Donald Trump.

Although in April have 10 percent tariffs imposed by Trump, the UK won a significant discount on Steel and Auto Tariff Trump has increased by an additional 25 percent in February and March.

In exchange for, UK By approved greater access to the United States for beef, ethanol and industrial products, the UK market raises concerns that have taken the risk of waterlogging in US products.

UK negotiators are avoiding politically controversial regions, such as reducing digital service taxes in the United Kingdom, opening health care markets or chlorine-free chicken and hormone-treated beef in American agencies, to change the food quality of the UK.

Sussex University, the main research partner of the University of International Trade, said that the agreement has left the United Kingdom “significantly bad” in bilateral trade terms with the United States in the United States more than a year ago – but now with competitive facilities against some other countries.

Economy

Economists said that this agreement would bring relief to industries at the highest risk of tariffs, but both the United States or the United Kingdom would not make any difference in the overall economic attitude. They suggested that the United States would also fight to make meaningful agreements with other countries.

Limited relief from auto and steel and aluminum tariffs will “splash” effective tariffs in the United States, but strictly hit American customers, the average tariff will still be twice as double digits, the consultants say Michael Piers in Oxford Economics.

“We do not expect this to have a significant impact on the overall UK GDP,” said Pimco economist Peder Back-Freys. “To tighten the ongoing financial and [Bank of England] There is a more important driver of the policy viewpoint. “

Paul Dales, a UK economist in the capital economy, says the UK’s effective US import tariff rate will rise to about 5 percent, which is much higher than the existing 5 percent last year. Thursday’s agreement was about 5 percent of the improvement of Thursday’s contract depended a lot on the future US system in critical sectors like Pharmaceuticals.

Autos

Britain’s car officials welcomed the agreement, which has dropped to 5 percent of the 2 27.5 percent potential tariffs for the first 1,3,3 cars sent from the UK.

According to the Society of Motor Manufacturers and Traders, almost all new quotas are responsible for about 101,870 vehicles exported to the United States last year.

Mike House, CEO of SMMT, said, “The application of these tariffs was a serious and immediate threat to the UK motor vehicle exporters so that the deal would provide much necessary relief.”

Adrian Mardel, chief executive of Jaguar Land Rover, the largest UK exporter to the United States, describes the agreement as “significant progress” in providing “definitely” to “invest in our forward.”

He, however, warned that “it is not working for the UK”, hoping that the future negotiations will reduce the timely tariff on time.

“This is not without the challenge but it is manageable,” said another executive.

Although Britain’s car industry is heavy dependent on European exports, cars are the largest single export items in the United States, accounting as a sales worth $ 6.4 billion. It is the largest market for high-end brands like JLR’s range Rover as well as Bentle and McLaren, with no manufacturing footprint in the United States.

Space

The United Kingdom also achieved an agreement that Rolls Royis allowed its engines to export “duty -free” to the United States, though the executives said they were still hopeful that all space parts would be exempted.

Rolls Royce shares have increased by 5.6 percent after the news. Meanwhile, US Commerce Secretary Howard Lutnik said a UK airline was scheduled for the company’s $ 10 billion worth of purchases, and on Thursday the shares on US airline Boeing increased by 2.5 percent. British Air Owner IAG stopped an agreement to purchase the Boeing 7 787 aircraft on Thursday night, confirmed by people familiar with the agreement.

A large user of Steel and Aluminum is rushing to adjust to the AirSpace Industry Trump’s trade war, filtering the higher expenses through its integrated supply chain.

ADS Chief Executive, Aerospace and Defense Trade Organization Kevin Craveen said the base base would be in place of 10 percent tariff, “eliminating additional tariffs on steel and aluminum is a significant achievement”.

He also added, “Eliminating tariffs on the engine and the aerospace parts has also been very welcome, though we are waiting for more specific details,” he added.

Agriculture and food

Farmers welcomed the UK government’s commitment to maintain British food standards and to protect mutual access for beef business, but warned that the Ethanol floods could hit farmers in the UK.

The White House has said that the deal will “extend significantly” to the US market access to the UK, referenced $ 700 million for the export of Ethanol and $ 250 million for other agricultural products such as beef.

“Our biggest concern is that the two agricultural sectors have been kept on the heavy burden of removing tariffs for other economies,” said Tom Bradshow, president of the United Kingdom National Farmer Union.

The NFU says biofuels were “very important” for the UK’s cultivable crop sector. “The perfect generosity of our Ethanol market can translate the loss of this profitable outlet for our cultivable farmers,” said it. The Biothanol in the UK is originally produced from domestic wheat and import corn.

Downing Street says that the UK and US beef agreed to access the “mutual” market, the UK farmers received a duty -free quota of 1.5 metric tons.

The White House says the UK “unfairly” “meat, poultry and dairy products are maintained at the peak of non-science-based values ​​at the top of” 125 percent of the top 125 percent tariffs on the top.

Before Trump imposed a 10 percent tariff on its blanket, the US had applied an average of 5 percent agricultural area, while the average tariff in the UK was 9.2 percent.

Food and drink federation, lobby of food manufacturers, 10 percent tariffs will still affect the UK food exporters, many of whom are small businesses. The industry has sent $ 2.7 billion worth of goods to the United States in 2024.

Steel

The UK government has welcomed the contract to scrap the customs as “extremely significant” for the export of US exports to the UK government to save Britain’s last remaining steel explosion reactors.

In February, a few weeks after the office arrived, Trump cut off an agreement between former President Joe Biden and a deal between the United States and the United States on all British steel and aluminum imports of 25 percent.

The Commerce Organization UK Steel emphasized that some precision about the terms of this agreement was still needed, especially whether a string will be connected to qualify for zero percentage tariff for steel, and when the rules change will be effective.

The second largest market for export of steel from the UK after the United States. In 2024, the United Kingdom finished 180,000 tonnes semi-finished and steel in the United States, which is worth $ 370 million. It is 7 percent of the total steel export of the UK and by 9 percent by value.

Pharm

The United Kingdom has claimed that the UK has agreed to give priority treatment to any tariff imposed on Washington’s ongoing investigation as to whether pharmaceuticals and semiconductor imports threatens national protection.

This discount of Starmer has been praised as a step that will protect the UK “whatever happens in the future” – it is a mention that Trump is still considering whether to impose tariffs on pharmaceuticals.

London has added that the agreement is based on future UK-US technology partnerships, where UK can cooperate in sectors such as biotech, life science, quantum computing, nuclear fusion, space and space.

Promises have raised hope in the pharmaceuticals industry that the worst effects of the future Trump’s tariff will now be avoided, though the sector is alert without more details.

“This is good progress but we need to understand a little more about it,” said the image of an art. “All of them add to the lack of precision,” another said, “still pointing to” positive framing “.

Peter Foster, Kana Inagaki, Sylvia FIFA, Medalin Speed, Michael Pill, Gillian Pleimer, Sam Fleming, Delfine Strace and Philip Georgiadis Andy Bounds in London and Andy Bounds in Brussels