BRITAIN’S 10 per cent tariff hit is causing mixed feelings in the upper echelons of government today.
Yes, it was the lowest levy doled out by Donald Trump and far below that imposed on many other countries.
But it will still hurt the UK economy, whack our exporters and likely cost scores of jobs.
And what of this charm offensive Sir Keir Starmer has attempted to get in the US President’s good books?
It comes as…
- Donald Trump unleashed sweeping reciprocal tariffs on all nations on Wednesday
- The president said he would slap levies on major trade partners with universal 10% ‘baseline’
- Specific rates will apply to ‘worst offenders’
- The UK faces the minimum tariff rate at 10%
- The EU, meanwhile, faces a 20 per cent hit on border tax
- 25 per cent tariffs will be slapped on all foreign-made automobiles from midnight ET
Downing Street was quick to trumpet this approach – and the refusal to retaliate – as “vindication” we have escaped lightly from the tariff blizzard.
However, numerous other nations have also been subjected to the 10 percent tax, such as Brazil, which has not engaged in as much negotiation with the White House as our administration.
Ministers will be desperate now to sign this fabled economic deal in the hope it will do away with tariffs entirely.
Prime Minister’s plans after tariff blow
The Prime Minister plans to address corporate executives, while the Trade Secretary aims to reassure markets on Thursday following Donald Trump’s decision to impose a 10% fee on American imports of British products.
Downing Street suggested they had been vindicated in their approach to negotiating with the US in the hope of securing an exemption.
Westminster is not anticipated to retaliate immediately, as authorities persist in their efforts to finalize an economic agreement with their American counterparts.
Sir Keir Starmer is expected to meet with businesses on Thursday, after warnings that the changes will be a “blow” to UK firms.
The 25% levy on cars had been expected, but the 10% rate on other goods was lower than had been expected, with fears that it could have been set at 20% to mirror VAT.
The Conservatives described the tariff announcement as “disappointing news” that will “worry working families”, but suggested that Brexit had spared the UK from a higher rate of taxes.
Shadow trade secretary Andrew Griffith said: “The silver lining is that Brexit, which Labour ministers voted against no less than 48 times, means that we face far lower tariffs than the EU.
“A Brexit dividend that will have protected thousands of British jobs and businesses.”
Meanwhile, Liberal Democrat leader Sir Ed Davey suggested the situation calls for closer collaboration with Europe.
Accusing Mr Trump of kicking off a “destructive trade war”, Sir Ed said: “The Prime Minister should bring our Commonwealth and European partners together in a coalition of the willing against Trump’s tariffs, using retaliatory tariffs where necessary and signing new trade deals with each other where possible.”
One thing is undeniable: being outside the European Union has spared us being doubly worse off.
The 20 per cent tariff slung around the Brussels bloc would have been our fate should Brexit had not happened.
EU chief Ursula Von der Leyen has vowed to retaliate – which would have dragged us into a trade war with our closest ally if we were still a member.
It’s not a pretty situation, but t could be a whole lot worse…
President Trump’s Reciprocal Tariffs
President Trump unveiled his reciprocal tariff plan on countries worldwide on April 2, which he declared as “Liberation Day.”
Reciprocal tariffs per country, which includes the 10% baseline fee:
- China: charges the US 67% tariffs, the US will counter with 34% reciprocal tariffs.
- European Union: charges the US 39% tariffs, the US will counter with 20% reciprocal tariffs.
- Vietnam: charges the US 90% tariffs, the US will counter with 46% reciprocal tariffs.
- Taiwan: charges the US 64% tariffs, the US will counter with 32% reciprocal tariffs.
- Japan: charges the US 46% tariffs, the US will counter with 24% reciprocal tariffs.
- India: charges the US 52% tariffs, the US will counter with 26% reciprocal tariffs.
- South Korea: charges the US 50% tariffs, the US will counter with 25% reciprocal tariffs.
- Thailand: charges the US 72% tariffs, the US will counter with 36% reciprocal tariffs.
- Switzerland: charges the US 61% tariffs, the US will counter with 31% reciprocal tariffs.
- Indonesia: charges the US 61% tariffs, the US will counter with 32% reciprocal tariffs.
- Malaysia: charges the US 47% tariffs, the US will counter with 24% reciprocal tariffs.
- Cambodia: charges the US 97% tariffs, the US will counter with 49% reciprocal tariffs.
- United Kingdom: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- South Africa: charges the US 60% tariffs, the US will counter with 30% reciprocal tariffs.
- Brazil: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Bangladesh: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs.
- Singapore: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Israel: charges the US 33% tariffs, the US will counter with 17% reciprocal tariffs.
- Philippines: charges the US 34% tariffs, the US will counter with 17% reciprocal tariffs.
- Chile: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Australia: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Pakistan: charges the US 58% tariffs, the US will counter with 29% reciprocal tariffs.
- Turkey: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Sri Lanka: charges the US 88% tariffs, the US will counter with 44% reciprocal tariffs.
- Colombia: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Peru: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Nicaragua: charges the US 36% tariffs, the US will counter with 18% reciprocal tariffs.
- Norway: charges the US 30% tariffs, the US will counter with 15% reciprocal tariffs.
- Costa Rica: charges the US 17% tariffs, the US will counter with 10% reciprocal tariffs.
- Jordan: charges the US 40% tariffs, the US will counter with 20% reciprocal tariffs.
- Dominican Republic: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- United Arab Emirates: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- New Zealand: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs.
- Argentina: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Ecuador: charges the US 12% tariffs, the US will counter with 10% reciprocal tariffs.
- Guatemala: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Honduras: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Madagascar (Burma): charges the US 88% tariffs, the US will counter with 44% reciprocal tariffs.
- Tunisia: charges the US 55% tariffs, the US will counter with 28% reciprocal tariffs.
- Kazakhstan: charges the US 54% tariffs, the US will counter with 27% reciprocal tariffs.
- Serbia: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs.
- Egypt: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Saudi Arabia: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- El Salvador: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Côte d’Ivoire: charges the US 41% tariffs, the US will counter with 21% reciprocal tariffs.
- Laos: charges the US 95% tariffs, the US will counter with 48% reciprocal tariffs.
- Botswana: charges the US 74% tariffs, the US will counter with 37% reciprocal tariffs.
- Trinidad and Tobago: charges the US 12% tariffs, the US will counter with 10% reciprocal tariffs.
- Morocco: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Moldova: charges the US 61% tariffs, the US will counter with 31% reciprocal tariffs.
- Angola: charges the US 63% tariffs, the US will counter with 32% reciprocal tariffs.
- Democratic Republic of the Congo: charges the US 22% tariffs, the US will counter with 11% reciprocal tariffs.
- Jamaica: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Mozambique: charges the US 31% tariffs, the US will counter with 16% reciprocal tariffs.
- Paraguay: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Zambia: charges the US 33% tariffs, the US will counter with 17% reciprocal tariffs.
- Lebanon: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Tanzania: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Iraq: charges the US 78% tariffs, the US will counter with 39% reciprocal tariffs.
- Georgia: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Senegal: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Azerbaijan:charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Cameroon: charges the US 22% tariffs, the US will counter with 11% reciprocal tariffs.
- Uganda: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs.
- Albania: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Armenia: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Nepal: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Sint Maarten: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Falkland Islands: charges the US 82% tariffs, the US will counter 41% with reciprocal tariffs.
- Gabon: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Kuwait: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Togo: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Suriname: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Belize: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Algeria: charges the US 59% tariffs, the US will counter with 30% reciprocal tariffs.
- Oman: charges the US 10& tariffs, the US will counter with 10% reciprocal tariffs.
- Uruguay: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Bahamas: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Lesotho: charges the US 99% tariffs, the US will counter with 55% reciprocal tariffs.
- Ukraine: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Bahrain: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Qatar: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Mauritius: charges the US 80% tariffs, the US will counter with 40% reciprocal tariffs.
- Fiji: charges the US 63% tariffs, the US will counter with 32% reciprocal tariffs.
- Iceland: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Kenya: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Liechtenstein: charges the US 73% tariffs, the US will counter with 37% reciprocal tariffs.
- Guyana: charges the US 76% tariffs, the US will counter with 38% reciprocal tariffs.
- Haiti: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Bosnia and Herzegovina: charges the US 70% tariffs, the US will counter with 35% reciprocal tariffs.
- Nigeria: charges the US 27% tariffs, the US will counter with 14% reciprocal tariffs.
- Namibia: charges the US 42% tariffs, the US will counter with 21% reciprocal tariffs.
- Brunei: charges the US 47% tariffs, the US will counter with 24% reciprocal tariffs.
- Bolivia: charges the US 20% tariffs, the US will counter with 10% reciprocal tariffs.
- Panama: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Venezuela: charges the US 29% tariffs, the US will counter with 15% reciprocal tariffs.
- North Macedonia: charges the US 65% tariffs, the US will counter 33% with reciprocal tariffs.
- Ethiopia: charges the US 10% tariffs, the US will counter with 10% reciprocal tariffs.
- Ghana: charges the US 17% tariffs, the US will counter with 10% reciprocal tariffs.
The full list was shared on by the White House’s rapid response team on X.
