BritishAmerican Business (BAB) welcomes the implementation of the tariff reductions announced today, which includes cutting auto tariffs from 27.5 per cent to 10 per cent (for up to 100,000 units), and the elimination of tariffs on aerospace goods such as engines and aircraft parts.

These changes are welcome and will bring immediate relief to businesses operating in these sectors. However, tariffs on aluminium and steel products are yet to be removed and must remain a priority as negotiations continue. In addition, the fact that a baseline 10 per cent tariff still applies, leaving many UK exporters worse off than before Liberation Day, underlines the need for further progress.

BritishAmerican Business urges both governments to continue negotiations toward the broader Economic Prosperity Deal, announced last month. This agreement has the potential to deliver a more comprehensive framework for UK-US trade, including areas such as digital trade, supply chain resilience, investment screening, and economic security.

BAB stands ready to support both governments and business in shaping an ambitious deal that reflects the full potential of the transatlantic economic relationship.