Britain's Resilience Amidst U.S. Tariff Turmoil

British trade minister Peter Kyle expresses confidence in the trade deal with the U.S. despite concerns regarding a new 10% U.S. global import tariff. The ongoing discussions aim to preserve the deal's terms amidst this tariff shift. Kyle emphasizes the importance of maintaining a stable trading relationship.

British trade minister Peter Kyle has reassured that the trade agreement made with the United States last year remains intact, despite the recent imposition of a 10% global import tariff by the U.S.

The U.S. has begun collecting this new tariff with intentions to eventually increase it to 15%, causing uncertainty in the wake of last week's Supreme Court ruling. However, Kyle remains confident that dialogues with the U.S. administration suggest the deal reached last year will persist.

Kyle highlighted to a parliamentary committee that the 'Economic Prosperity Deal,' established last year, is still in place, offering favorable terms across sectors like automotive, aerospace, and agriculture. He pointed out that while comprehensive negotiations continue, the immediate focus is on preserving current advantages. He stressed the harmful impact of tariffs on trade relations, emphasizing ongoing efforts to maintain open dialogue and seek additional opportunities.

(With inputs from agencies.)