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Britain’s goods exports to the United States fell by £2 billion in April, the largest monthly drop since records began in 1997, after President Donald Trump imposed new tariffs on imports to the US.  The decline took total exports from the UK down to £4.1 billion, the lowest level since February 2022. The Office for National Statistics said the fall was “likely linked to the implementation of tariffs on goods imported to the United States.” Precious metals, machinery, transport equipment, chemicals, and other categories all saw lower shipments compared with March. Under the measures announced on April 2, dubbed “Liberation Day” by President Trump, the UK faced a 10% tariff on all goods. Steel, aluminium, cars and car parts were hit with a higher 25% duty. These levies appear to have cut heavily into British exports. UK goods exports and imports, to and from the United States. Source: The Office for National Statistics Machinery and transport equipment exports to the US fell by £800 million in April. A large part of that came from fewer car exports. Chemical exports slid by £300 million, driven by a drop in sales of medicinal and pharmaceutical products. Exports of material, including non-ferrous metals, also saw a marked decline. The UK and US reached a deal on May 8 to lower car tariffs and remove duties on aluminium and steel. The new deal, however, has yet to take effect, and British exporters say they are still waiting for the changes to be implemented. The ONS also reported that, in the three months to April, the UK’s combined goods and services trade deficit with the rest of the world widened by £4.9 billion, reaching £11.5 billion. This reflects the larger drop in exports compared with imports over that period. ONS Director of Economic Statistics Liz McKeown…

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Filed under: News - @ June 12, 2025 11:31 am