A recent trade deal between the UK and the US has averted significant job losses at Jaguar Land Rover (JLR) in the West Midlands. Peter Mandelson, the UK ambassador to the US, emphasized the importance of this agreement, which reduced tariffs on car exports from 27.5% to 10%. Without this deal, thousands were at risk of losing employment in the automotive industry. Senior officials noted the urgency for quick negotiations to stabilize the economy, especially after recent tariffs threatened key British manufacturers.
This was very, very serious. It means people would have lost their jobs without this breakthrough, and it would have been a real economic hit to the UK.
Government insiders confirmed the decision to go for a quick deal while they could, announcing what they said was a breakthrough agreement to eliminate tariffs on car and steel exports.
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