UK car sales to US rise following tariff deal
After the introduction of the British -made automobile sales agreement to the United States, it rose in July.
According to the Motor Manufacturers and Traders Association (SMMT), an increase of 6.8% is followed by three consecutive months of falling sales.
US President Donald Trump initially proposed a 25% import tax in England cars in April, which sent shock waves to the sector, but this was later reduced to 10% and entered into force at the end of June.
SMMT, the figures of July, “this agreement shows the effect of the effect,” he said, but the UK automobile production is usually struggling, he added.
“The United States continues to be the only national market for British-made cars, which underlines the importance of the UK-US trade agreement.” He said.
The tariff from 25% to 10% is valid only for the first 100,000 cars sent during the Atlantic, which is related to the number of cars exported to the United States last year.
According to the agreement, any additional vehicle imports on this number will be taxed by 25%.
The US represents 18.1% of all UK automobile exports in July, while the European Union is a much larger market for automobile manufacturers and a total of 45.6% of exports.
Colleen Mchough, Chief Investment Officer of Wealthify, said the United States is “an important market for British -made cars”.
“In particular, an important market for premium brands such as Jaguar Land Rover (JLR).”
Before continuing a month later, JLR paused posts sent to the US in April after the first high tariffs were announced.
In general, Rose Rose, the UK automobile production, Rose Rose, Rose Rose for the second month in July due to both domestic sales and increases in exports.
However, the output has dropped 11.7%so far. Last month, car production fell in the UK The lowest level since 1953.
Experts say why the collapse is Higher UK labor costs, increasing competition from abroad and a combination of Brexit.
Commenting on the numbers of July, SMMT General Manager Mike Hawes said, “It continues to be a turbulent time for automotive production, weak consumer confidence, trade flows and new investment in new technologies that continue both abroad and abroad.
“Considering this floor, another monthly car output is good news.”
