The recently announced UK-US trade deal, heralded as a significant step in economic relations, offers little advantage to the UK's automotive industry, according to experts from Blick Rothenberg. While the deal reduces tariffs on British car exports to the US from 27.5% to 10%, it only limits the damage from previous protectionist policies under President Trump and does not create new market opportunities. The 10% tariff applies only to the first 100,000 vehicles, capping potential growth for UK exports. Experts criticize the agreement for preserving the status quo and failing to generate meaningful economic benefits.
The new UK-US trade deal offers limited benefits to the UK's automotive sector, primarily capping growth without creating new market opportunities.
While a 10% tariff is better than the previous 27.5%, the cap on the first 100,000 vehicles limits UK automotive exports to the US.
The deal merely preserves the status quo and safeguards existing jobs, but lacks incentives for UK automotive production and investment.
Overall, the trade deal fails to deliver significant macroeconomic gains or substantial advantages for the UK economy.
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