Import Duties: USA
The question
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 4 June 2025 to Question 55194 on Import Duties: USA, if he will set out the level of tariff reductions for UK SMEs under the economic deal concluded with the United States of America on 8 May 2025; and what assessment he has made of the potential impact of those reductions on SMEs reliant on international supply chains.
Answered by Mr Douglas Alexander
We are continuing talks on a wider UK-US Economic Deal which will look at enhancing access for our world-leading services industries and improving supply chains, including on SMEs.
The US has committed to further negotiations, including on the 10% tariffs introduced on 2nd April.
We have announced a range of measures to support SMEs, including access to additional finance through the British Business Bank and sector specific measures. We are also expanding UKEF’s capacity to support business by £20 billion, with £10 billion specifically aimed at businesses impacted by the current US tariffs. Any business which is concerned about what tariff changes mean for them can find clear guidance and support on business.gov.uk.
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