The recent trade agreement between the UK and US has brought joy to the automotive industry, but British farmers are expressing concerns that their interests have been sacrificed.
Farmers vs Automotive Industry
While the automotive sector celebrates the new agreement, UK farmers claim they have borne undue sacrifices. Tom Bradshaw, president of the National Farmers' Union, criticized the government for using agriculture as a bargaining chip and urged for protections for the sector.
Tariff Reductions on Cars
Following a 25% tariff imposed by President Trump on UK-built cars since April 3, June saw a substantial decline in exports to the US. However, as of June 5, tariffs were reduced to 10%, rekindling shipment possibilities.
Outlook for UK Exports
Despite the favorable changes for the automotive industry, UK farmers are alarmed that their own exports remain pressured due to filled quotas and government concessions.
In conclusion, while the automotive sector may benefit from tariff reductions, the future of UK agriculture remains uncertain. Farmers hope for their interests to be considered in future trade agreements.
