The overall US tariff level on the UK has remained unchanged, but the European Union has seen its rate reduced from 15% to 10%, according to reports.
Reports indicate that both the UK and the EU now face the same US tariff rate of 10%. However, experts cited by one source argue that UK businesses are at a disadvantage compared to EU businesses despite the identical rate.
The US tariff rate reportedly applied to both the UK and the EU.
The tariff deal was reportedly struck by UK Prime Minister Keir Starmer and Peter Mandelson. Certain key exemptions have been made for the UK, according to one source.
Reports differ on the significance of the exemptions. One source emphasizes the exemptions, while others focus on the unchanged rate and the claimed disadvantage for UK businesses.