Following the imposition of price lists in advance this week, Jaguar Land Rover has announced that it’ll “pause” all shipments to the US and could work to “cope with the brand new trading terms.” One of numerous measures introduced by US President Donald Trump that have stunned global supply chains, the 25% tariff on car imports went into effect on Thursday. After the European Union, the United States of America is the UK’s second-largest automobile export marketplace. “Taking some quick-time period movements, which include a shipment pause in April, as we develop our mid to longer-time period plans,” a spokesperson for Jaguar Land Rover stated in a statement
According to the automaker, primarily based in Coventry and operating centers in Solihull and Wolverhampton, the US is an “important market for JLR’s luxury brands.” The United Kingdom exports more items to the United States than any other country. According to the United Kingdom alternate department, the exchange became well worth £8.3 billion over a 12-month duration ending in the third quarter of 2024. On April three, the primary spherical of car price lists went into effect, and the following month, import taxes on automobile elements will comply with.
All other UK imports will be situation to a separate tariff of 10%, with higher costs relevant to a few other major economies. Companies are looking to parent out how to adapt to the new buying and selling environment, and as a result, international stock markets have suffered full-size losses these days. Sir Keir Starmer has stated the UK will take a calm approach to the exchange tariffs and has ruled out “jumping right into an alternative war”.
The high minister said that the UK could “genuinely” be affected on Thursday and that the global economic system was “getting into a new generation.” The government is consulting on products it may impose retaliatory measures on; however, talks among UK and US officials continue on a possible trade deal, which the British government hopes could see tariffs relaxed.
Sir Keir is having talks with different European leaders to discuss a way to reply to the White House’s trade moves.
- Jaguar Land Rover