The new VE Day tariff deal between the UK and the US aims to alleviate some trade barriers, including eliminating tariffs on UK steel and aluminum and reducing tariffs on cars. However, Parcelhero expresses concern that these changes will benefit only a few large exporters, leaving many smaller UK businesses unaffected. The ongoing blanket 10% tariff on products over $800 persists, affecting SMEs substantially. Recent statistics indicate a notable decline in UK exports to the US, highlighting the challenges faced by smaller exporters amid increasing costs and demand drops due to tariffs.
This new US trade deal simply doesn't help most of them. Last year, UK goods exports to the US were worth £59.3bnâa significant fall of £2.3bn (3.7%).
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