US global tariffs will rise to 15%, Donald Trump says

Donald Trump has announced 15% global tariffs in a move the British Chambers of Commerce warned would deal a further blow to UK businesses.

The US President initially said he would impose a 10% levy after the Supreme Court struck down his previous import taxes on Friday.

But in a post on Truth Social on Saturday, he said he would be increasing this to the higher rate “effective immediately”.

Britain’s biggest business organisation swiftly expressed dismay at the announcement and urged the Government to continue dialogue with US counterparts to keep the UK’s competitive advantage.

“We had feared that the President’s plan B response could be worse for British businesses and so it is proving,” William Bain, head of trade policy at the BCC said.

“This means an extra 5% increase in tariffs on a wide range of UK goods exports to the US, except those covered under the Economic Prosperity Deal.

“This will be bad for trade, bad for US consumers and businesses and weaken global economic growth. Businesses on both sides of the Atlantic need a period of clarity and certainty. Higher tariffs are not the way to achieve that.”

The UK Government repeated its assertion that it expects Britain’s “privileged trading position with the US” to continue, when approached for comment on the announcement of a new 15% rate.

Britain had received the lowest tariff rate of 10%, and a subsequent agreement struck by Prime Minister Sir Keir Starmer and Mr Trump saw further carve-outs for the country’s steel industry and car manufacturers.

Questions remain over whether those deals still stand, although officials are understood to believe the changes would not have an impact on most of the UK’s trade with America, including preferential arrangements on steel, cars and pharmaceuticals.

A Government spokesperson said: “This is a matter for the US to determine but we will continue to support UK businesses as further details are announced.

“Under any scenario, we expect our privileged trading position with the US to continue and will work with the administration to understand how the ruling will affect tariffs for the UK and the rest of the world.”