Quotes
The president is committed to the 10% baseline tariff, not just for the United Kingdom, but for his trade negotiations with all other countries as well.”
Asked whether the 10% rate would still remain for the UK once the final details of the deal had been settled, the White House press secretary said
_2.jpg)
The process by which we will continue the negotiation with the US about those wider tariff lines and the 10% reciprocal tariff continues. There is no deadline for that.”
On the Government’s efforts to try and reduce or even remove the wider 10% levy, Business Secretary Jonathan Reynolds had told reporters on ThursdayFollowing the FTSE 100’s longest winning streak and sterling’s climb to a 38-month high against the dollar – signalling a robust return of global capital to UK markets – gains on Friday were mild as scepticism remained about the limited scope of the UK deal and the retention of a 10% tariff on British-made cars.”
He addedThat’s really… handmade stuff and they’ve been doing it for a long time in the same location,
he added, noting
We took it from 25 to 10 on Rolls-Royce because Rolls-Royce is not gonna be built here. I wouldn’t even ask them to do that. You know, it’s a very special car and it’s a very limited number too,
Trump said, announcing the agreement with Britain in the Oval Office
Laser focused on reducing prices for everyday Americans from Day One, ... the President has struck a deal that will lower the price of Rolls Royces, Bentleys, Jaguars, Aston Martin’s, Range Rovers and Minis.”
University of Michigan economist Justin Wolfers posted on XIt’s not… one of the monster car companies that makes millions of cars. They make a very small number of cars that are super-luxury and that includes Bentley and Jaguar… some very special cars,
Trump saidWe don’t see that happening,
the Mattel CEO told CNBC after the company warnedWe’ll put a 100% tariff on his toys, and he won’t sell one toy in the United States, and that’s their biggest market.” ... I wouldn’t wanna have him as an executive too long.”
Trump fired back, saying ... Trump added
It would be beneficial to have a more open economy to trade with the European Union. Because there has been a fall-off in goods trade with the EU over recent years.”
He addedThe FTSE 100 top risers’ list was full of UK-listed stocks that do business in the US, such as retailer JD Sports, rat catcher Rentokil and industrial groups Smiths [Group] and Spirax,
said Russ Mould, investment director at stockbroker AJ Bell
The potential from India’s growing demand for consumer goods and services is huge.”
Anna Leach, chief economist at the Institute of Directors, saidThis deal has saved those jobs,
he saidRemoving barriers to growth and investment from excessive regulation – particularly via the planning system – is the big opportunity to get the UK on to a firmer platform for growth and prosperity,
she said
Our biggest concern is that two agricultural sectors have been singled out to shoulder the heavy burden of the removal of tariffs for other industries in the economy,
said NFU President Tom Bradshaw in a statement
It was important to us to be able to bank the progress that we had made at this stage,
said an insiderWhilst the new trade deal with the US constitutes a political win for the Government, the direct impacts on UK GDP are likely to be very small, given we export just £9 billion worth of cars to the US each year and the vast majority of goods won’t benefit from this tariff relief announcement.”
Ben Caswell, Neisr’s senior economist, said
That said, the UK has now signed two trade deals in quick succession, and that is keeping markets hopeful on trade talks with the EU,
Pesole said, referring to UK's trade agreements with the United States and India
The deal had already been largely priced in, and the implications for the UK economy are not significant,
he saidThere may be issues around ownership, around where the steel is made, and until we see those details we don’t know whether this heavy burden will be lifted from us.”
He told Times Radio