The US and UK have announced a deal on tariffs which will see the 25% levy on UK steel and aluminium removed and the rate on most car exports cut to 10% - but campaigners argue the White House's "chaotic" style means any agreement must be treated with "extreme caution".
Donald Trump and Keir Starmer made headlines this afternoon when both leaders announced they had agreed the terms of a deal to reduce tariffs, which will see the US lower tariffs on UK car imports and remove the levy on steel and aluminium.
The first 100,000 vehicles exported to the US from the UK each year will now be tariff free, and according to the BBC just 101,000 were exported last year.
In return, the UK government has confirmed it is removing the tariff on ethanol arriving in the UK from the US, and "agreed new reciprocal market access on beef" with "no weakening of UK food standards on imports".
But while welcoming any limitation of damage to the UK economy, campaigners have stressed the need to treat any US deal with "extreme caution" highlighting Trump's chaotic and unpredictable approach to trade.
Independent econometric research undertaken by Frontier Economics projects that beneficial regulatory alignment with the EU on goods and services could growth of up to 2.2% with the greatest impact felt in the Midlands and North.
Responding to confirmation that the UK government has agreed a deal on tariffs with the US, Naomi Smith, Chief Executive of Best for Britain which campaigns for closer EU-UK ties, said:
“Chaotic and lacking detail, today’s announcement neatly demonstrates why trade with Trump’s erratic and unpredictable administration should be treated with extreme caution.
"Independent economic analysis shows that a common sense deal with our closest market can drive real growth rather than just limiting damage and our polling shows voters in every constituency in Britain, from Clacton to Newport, want the government to prioritise trade with our more reliable partners in Europe over Trump’s USA.”