(qlmbusinessnews.com . Fri 4th Apr, 2025) London, UK —
UK Draws Up List of US Imports for Potential Trump Tariff Retaliation.
The UK government is preparing to retaliate against the new wave of US tariffs by drawing up a list of American products that could be targeted with counter-tariffs. Business Secretary Jonathan Reynolds confirmed that UK firms are being consulted on the likely impact of the current 10% tariff imposed on nearly all UK exports to the US, and on which products should be included on the list.
If a deal with the US to reduce these tariffs is not reached by 1 May, the government has reserved the right to impose retaliatory tariffs on US imports. A sample 417-page list has been published, covering around 27% of US imports that are considered to have a “more limited impact” on the UK economy. The list includes a diverse range of goods, from purebred horses and children's clothes to crude oil, firearms, and bourbon whiskey.
Reynolds noted that while negotiations with the US government are ongoing, the UK government is fully prepared to take necessary actions if an agreement cannot be reached. He pointed out that lower tariffs on the UK compared to other countries have been seen as a pragmatic approach, although he expressed disappointment over the need for these measures.
The move comes as part of broader trade negotiations, with the government hinting that any final deal would address issues beyond tariffs, including technology, trade in goods and services, and agricultural trade. Additionally, Chancellor Rachel Reeves has suggested that as part of any deal to ease US tariffs, the UK might adjust its taxes on big tech firms, building on the digital services tax introduced in 2020.
Both government and business groups have largely supported a strategy of not provoking the Trump White House further, but the looming deadline of 1 May is setting the stage for potential retaliatory measures if no deal is secured.
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