BUSINESSES across Milton Keynes are being urged to have their say on the newly announced US trade tariffs on UK exports.
US President Donald Trump announced last week (April 2) that the USA was to apply a new 10% tariff – on top of existing duties, fees and taxes – to UK goods entering the USA from April 5.
The tariff is part of wider measures introduced by the US government. The new tariffs exclude certain sectors including steel, aluminium, automobiles, pharmaceuticals, semiconductors, energy, and key raw materials.
In response, the UK government is seeking the views of UK businesses on the potential impact and what products should be considered in any retaliatory tariff measures.
Consultation is open until May 1, with the government stressing that a negotiated deal remains the preferred outcome.
Milton Keynes Chamber of Commerce is urging employers across the city to take part and have their say. Its head of policy Simon Cox said: “These new tariffs from the United States pose serious questions for businesses across Milton Keynes that rely on exports to the US.
“It is vital that local voices are heard at the highest level to ensure any response is proportionate and protects our regional economy.
“I strongly encourage all affected businesses to respond to the government’s call for input before the May 1 deadline. This is a real opportunity to influence the UK’s trade policy and help shape a fairer outcome for our local exporters.”
Jonathan Reynolds, Secretary of State for Business and Trade, said that the government is committed to standing up for British businesses and jobs. Ministers remain hopeful of reaching a negotiated agreement with US partners but the call for input ensures British businesses have their voices heard in shaping any UK response.
With the US-UK trade relationship valued at £315 billion and supporting 2.5 million jobs, the impact of these tariffs is significant.
Businesses wishing to have an input can respond here.
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