Britain’s auto industry also only exports a small amount of Heavy Goods Vehicles to the U.S., but “we’re not quite clear on how they’re defining a heavy truck,” they said.
“Businesses need as much certainty as possible on tariffs,” said William Bain, head of trade policy at the British Chambers of Commerce, citing research by the industry body showing 60 percent of U.K. goods exporters are concerned about their customers paying higher prices.
Bain and the BCC plan to “urge” the U.K. government “to continue dialogue on tariff reduction with the U.S. administration in the interests of both U.K. businesses and their U.S. consumers.”
Sitting comfortably?
On Monday the White House issued a presidential notice saying that in mid-October, it will slap 25 percent tariffs on the value of imported kitchen cabinets, vanities and upholstered furniture and 10 percent duties on softwood lumber.
This is one British sector, however, which is sheltered by the May deal. The administration said that U.K. tariffs will be leveled at 10 percent, in addition to the original “most-favored nation” rates, per the terms of the deal.
The big hitter
The president has also decided to revive an earlier bugbear, vowing to impose yet another 100 percent flat tariff on “any and all movies that are made outside of the United States.