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"Big and exciting day for USA and UK"
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By *abioMan 52 weeks ago
Newcastle and Gateshead |
"So we're about to hear of a "trade deal" between the US and UK.
Who's excited?"
It might be…… it might not be
Depends of whether it is “full and comprehensive” or whether it’s a “memorandum of understanding “
Bearing in mind that the UK are already in trump’s “global 10% tariff” (which means the US already have a trade surplus with the UK)
The real question is going to be “what else did the uk have to give up for the additional tariffs in steel, aluminium, and UK car exports… and does that mean allowing in lower quality US agricultural products |
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By *abioMan 52 weeks ago
Newcastle and Gateshead |
"Trade deal and a bank rate cut; Reeves just got out of jail "
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”  |
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"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!” "
That doesn't seem like an unreasonable position to take. |
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By *abioMan 52 weeks ago
Newcastle and Gateshead |
"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take."
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%) |
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We'd be better off kicking the USA into touch. Trump has proved that he doesn't believe in international law, treaties or contracts of any form. Any company that attempts trade with the USA at the moment need their CEO's head looking at, how can a company make any form of financial plan when buying or selling from somewhere that makes trade with Beirut look predictable?
Trump does not see the world in any terms of honest trade to improve both sides, all he sees is places to exploit and steal from. As far as he is concerned, any USA-UK deal is only about him (personally!) gaining, and fucking over everybody else. The only way to win is to not engage in the first place. |
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"Any company that attempts trade with the USA at the moment need their CEO's head looking at..."
https://assets.publishing.service.gov.uk/media/681343167e56aaab3b5253e5/united-states-trade-and-investment-factsheet-2025-05-02.pdf
So the companies that collectively sell 196.3bn of goods and services to the US should... close up shop?
It's not that simple; there is a risk/reward decision that CEOs need to make. Most companies take a considered risk decision, rather than determining how much they do or don't like a head of state, before determining with which countries to trade. |
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By *abioMan 52 weeks ago
Newcastle and Gateshead |
"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)"
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage |
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By *deepdiveMan 52 weeks ago
Canterbury and France (26) |
"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage "
The deal is: US trebles tariffs on the UK, and in return the UK cuts tariffs by two-thirds…
Yet we see this as a win? |
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By *abioMan 52 weeks ago
Newcastle and Gateshead |
"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage
The deal is: US trebles tariffs on the UK, and in return the UK cuts tariffs by two-thirds…
Yet we see this as a win?"
Sort of… because the 10% global tariffs was something that Trump was never going to give up in negotiations…. So to get them to move on the stuff that was moveable is a win
That’s why I call it a limited deal because the 10% global tariff is still in place, but a lot of the stuff where the uk does export it’s done not a bad job…
If you see the board where the claim is that the us got 6bn out of the uk, in real terms at the moment they got nothing but incentives
|
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"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage "
Totally agree with all points.
To add: if the UK gave in on digital sales tax, that would have been a terrible precedent, when we really need to move on the opposite direction. |
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"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage
The deal is: US trebles tariffs on the UK, and in return the UK cuts tariffs by two-thirds…
Yet we see this as a win?
Sort of… because the 10% global tariffs was something that Trump was never going to give up in negotiations…. So to get them to move on the stuff that was moveable is a win
That’s why I call it a limited deal because the 10% global tariff is still in place, but a lot of the stuff where the uk does export it’s done not a bad job…
If you see the board where the claim is that the us got 6bn out of the uk, in real terms at the moment they got nothing but incentives
"
Add the stability this hopefully brings to the exporters and markets. Don’t think it’s a bad outcome. |
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It’s good to know that Trump’s first real trade deal after announcing his tariffs was with us. If only our superior steel from Scunthorpe didn’t cost so much to make, due to extortionate energy prices. If only Labour hadn’t shut down all aluminium production in the UK. If only we hadn’t had decades of deliberate decline of North Sea Oil and Gas.
So it’s great, but could have been far greater. |
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"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage "
Good to see that despite the normal fear mongering the chlorinated chicken is still not heading our way, even though some said the UK would have to accept it for a deal. Maybe opportunities for British farmers to export more. On the car front, according to the BBC the UK exported 101000 last year so just over the limit now set. |
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"We'd be better off kicking the USA into touch. Trump has proved that he doesn't believe in international law, treaties or contracts of any form. Any company that attempts trade with the USA at the moment need their CEO's head looking at, how can a company make any form of financial plan when buying or selling from somewhere that makes trade with Beirut look predictable?
Trump does not see the world in any terms of honest trade to improve both sides, all he sees is places to exploit and steal from. As far as he is concerned, any USA-UK deal is only about him (personally!) gaining, and fucking over everybody else. The only way to win is to not engage in the first place."
Why would you kick into touch a country that you do most trade with? |
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"We'd be better off kicking the USA into touch. Trump has proved that he doesn't believe in international law, treaties or contracts of any form. Any company that attempts trade with the USA at the moment need their CEO's head looking at, how can a company make any form of financial plan when buying or selling from somewhere that makes trade with Beirut look predictable?
Trump does not see the world in any terms of honest trade to improve both sides, all he sees is places to exploit and steal from. As far as he is concerned, any USA-UK deal is only about him (personally!) gaining, and fucking over everybody else. The only way to win is to not engage in the first place.
Why would you kick into touch a country that you do most trade with? "
Maybe we should cut off our nose to spite our face, “because orange man bad!” |
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"It’s good to know that Trump’s first real trade deal after announcing his tariffs was with us. If only our superior steel from Scunthorpe didn’t cost so much to make, due to extortionate energy prices. If only Labour hadn’t shut down all aluminium production in the UK. If only we hadn’t had decades of deliberate decline of North Sea Oil and Gas.
So it’s great, but could have been far greater."
Apart from the aluminium smelter still going at Lochaber when did labour shut down aluminium production in the UK? |
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By *ermbiMan 52 weeks ago
Ballyshannon |
"It’s good to know that Trump’s first real trade deal after announcing his tariffs was with us. If only our superior steel from Scunthorpe didn’t cost so much to make, due to extortionate energy prices. If only Labour hadn’t shut down all aluminium production in the UK. If only we hadn’t had decades of deliberate decline of North Sea Oil and Gas.
So it’s great, but could have been far greater."
I wouldn't oversell the greatness there. Still 10% tariffs on most goods. US are winners here |
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I must say, I don't have an in depth knowledge on this topic but after leading through the thread I have a couple of questions. The first is that they need Rolls Royce engines for Airbus aircraft, but isn't Airbus an European company? Yes, it has a footprint in the states but minor in comparison to Boeing etc, who also use RR engines so surely it's far more for the benefit of Boeing than Airbus. The second is on the tariff on imported cars after the 100,000 allowance. How the hell do they work that out? For example, does that mean if jaguar ship 100000 cars in June they are tariff free but when lotus ship ten in July they have to pay a tariff? Or the American buying the 100001st car has to pay 10% more than the person who bought the previous car. I'm just curious how they think it's going to work? |
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By (user no longer on site) 52 weeks ago
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"I must say, I don't have an in depth knowledge on this topic but after leading through the thread I have a couple of questions. The first is that they need Rolls Royce engines for Airbus aircraft, but isn't Airbus an European company? Yes, it has a footprint in the states but minor in comparison to Boeing etc, who also use RR engines so surely it's far more for the benefit of Boeing than Airbus. The second is on the tariff on imported cars after the 100,000 allowance. How the hell do they work that out? For example, does that mean if jaguar ship 100000 cars in June they are tariff free but when lotus ship ten in July they have to pay a tariff? Or the American buying the 100001st car has to pay 10% more than the person who bought the previous car. I'm just curious how they think it's going to work?"
I think it would work as you have described it.
Tariff Rate Quotas aren’t unusual. I’m sure you’d find some amongst the voluminous import tariffs that the UK and EU impose.
I presume it means that the US is happy to permit a limited volume of car imports, but would prefer that there aren’t too many, to preserve their domestic production. |
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By *otMe66Man 52 weeks ago
Terra Firma |
"I must say, I don't have an in depth knowledge on this topic but after leading through the thread I have a couple of questions. The first is that they need Rolls Royce engines for Airbus aircraft, but isn't Airbus an European company? Yes, it has a footprint in the states but minor in comparison to Boeing etc, who also use RR engines so surely it's far more for the benefit of Boeing than Airbus. The second is on the tariff on imported cars after the 100,000 allowance. How the hell do they work that out? For example, does that mean if jaguar ship 100000 cars in June they are tariff free but when lotus ship ten in July they have to pay a tariff? Or the American buying the 100001st car has to pay 10% more than the person who bought the previous car. I'm just curious how they think it's going to work?"
As I understand it: Trump is adding a 25% tariff on all car imports, he has reduced that to 10% for the first 100K UK built cars. Once the yearly exports have exceed 100k, a 27.5% tariff will be added for every other car imported.
I also believe the tariff is applied to the factory price, not the retail price. I would imagine that a new customer might be given the option to order a new car for the next quota, or if they want it now it will cost X more. |
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"I also believe the tariff is applied to the factory price, not the retail price."
The tariff is applied to the 'item value' declared in the import documentation. This might be full retail if it's going direct to a customer, but it'll probably be less than factory price if it's going to a dealer. Manufacturers like to leave some last bits of assembly to the local dealers, so that they can claim the car is unfinished, and therefore not worth full price, which reduces import duty. |
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By *usie pTV/TS 52 weeks ago
taunton |
Sir Kier is really pleased with himself and this deal, he thinks it is as big as Winston announcing the end of the war, only trouble with that he has forgotten to give us a holiday today so we can party in the streets in celebration. |
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"Any company that attempts trade with the USA at the moment need their CEO's head looking at...
https://assets.publishing.service.gov.uk/media/681343167e56aaab3b5253e5/united-states-trade-and-investment-factsheet-2025-05-02.pdf
So the companies that collectively sell 196.3bn of goods and services to the US should... close up shop?
It's not that simple; there is a risk/reward decision that CEOs need to make. Most companies take a considered risk decision, rather than determining how much they do or don't like a head of state, before determining with which countries to trade."
I wouldn't expect existing trade with the US to stop overnight just because "don't like orange idiot". But as you say, CEOs should be carefully assessing risk as part of the decision making process. For most types of trade the profit margins are in single digits only. Sometimes million pound deals might be only making a couple of percent profit. This absolutely needs an assurance of stability in the surrounding trade regulations, but we now see Trump changing the rules overnight, breaking treaties that he himself signed. Tearing up the trade rule book. Actually making threats of violence against countries, like some kind of gangster.
Sure there will be money that can still be made, but the risk has shot through the roof. Sensible CEOs should be looking to diversify away from any need to deal with the US, not trying to increase trade with them. |
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By *abioMan 52 weeks ago
Newcastle and Gateshead |
"I must say, I don't have an in depth knowledge on this topic but after leading through the thread I have a couple of questions. The first is that they need Rolls Royce engines for Airbus aircraft, but isn't Airbus an European company? Yes, it has a footprint in the states but minor in comparison to Boeing etc, who also use RR engines so surely it's far more for the benefit of Boeing than Airbus. The second is on the tariff on imported cars after the 100,000 allowance. How the hell do they work that out? For example, does that mean if jaguar ship 100000 cars in June they are tariff free but when lotus ship ten in July they have to pay a tariff? Or the American buying the 100001st car has to pay 10% more than the person who bought the previous car. I'm just curious how they think it's going to work?"
Sorry.. that was me writing in a hurry… I meant boeing rather than airbus!
So the rolls royce engines that need to be fitted to Boeing planes, which would have been tariff at 10% , which would have crippled Boeing more than they are currently, are going to be tariff at 0%
You could call it a carve out of which many will be coming! |
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By *abioMan 52 weeks ago
Newcastle and Gateshead |
"I also believe the tariff is applied to the factory price, not the retail price.
The tariff is applied to the 'item value' declared in the import documentation. This might be full retail if it's going direct to a customer, but it'll probably be less than factory price if it's going to a dealer. Manufacturers like to leave some last bits of assembly to the local dealers, so that they can claim the car is unfinished, and therefore not worth full price, which reduces import duty."
The tariff is going to be on the RRP (recommended retail price) of the car ….the one they state before the dealers start knocking prices off |
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"I also believe the tariff is applied to the factory price, not the retail price."
"The tariff is applied to the 'item value' declared in the import documentation. This might be full retail if it's going direct to a customer, but it'll probably be less than factory price if it's going to a dealer. Manufacturers like to leave some last bits of assembly to the local dealers, so that they can claim the car is unfinished, and therefore not worth full price, which reduces import duty."
"The tariff is going to be on the RRP (recommended retail price) of the car ….the one they state before the dealers start knocking prices off"
That's not how these things normally work. Where did you get that information? |
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"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage
Good to see that despite the normal fear mongering the chlorinated chicken is still not heading our way, even though some said the UK would have to accept it for a deal. Maybe opportunities for British farmers to export more. On the car front, according to the BBC the UK exported 101000 last year so just over the limit now set."
Much of this arrangement has yet to have the full details completed and agreed. We should still expect that the USA will have greater power than we will to dictate the terms. The 2 leaders were both needing some positive economic news this week, so getting the headline summary out, helped them. If there's anything more negative, expect it to be slipped out more quietly, later on |
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By *otMe66Man 52 weeks ago
Terra Firma |
"I also believe the tariff is applied to the factory price, not the retail price.
The tariff is applied to the 'item value' declared in the import documentation. This might be full retail if it's going direct to a customer, but it'll probably be less than factory price if it's going to a dealer. Manufacturers like to leave some last bits of assembly to the local dealers, so that they can claim the car is unfinished, and therefore not worth full price, which reduces import duty.
The tariff is going to be on the RRP (recommended retail price) of the car ….the one they state before the dealers start knocking prices off"
It shouldn't work like that, there is no control over the tariff.
The tariff should be applied to the price recorded on the customs declaration, which is the price a dealer / importer pays not on the retail price which can vary greatly. |
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"Trade deal and a bank rate cut; Reeves just got out of jail
BoE were all over the place with the rate cut and what should happen… I’m reading the future report now, fascinating but it basically comes down to “can’t advise because of trump’s tariff policy and constantly moving the goalposts!”
That doesn't seem like an unreasonable position to take.
It’s not at all…. But the biggest danger or problem to any economy is unstability
Trump is going to pass it off as a big thing… he needs a tarrifs W … as I said, the uk only account for 1% of us imports… and the us already hold a surplus over the uk in goods
There are basically 3 things to look for
1) did the uk give on the “digital sales tax “
2) did the us give on steel and aluminium (tariff at 25%)
3) did the us give on UK car exports (tariff at 25%)
Okay… from what I can see…
1) uk gave nothing on the digital sales tax
2) uk got the us to give on uk steel and aluminium (tariff from 25% down to 0%)
3) uk got the us to give on uk car exports (tariff down from 25% down to 10% on 1st 100,000 cars produced per year… uk don’t export that many anyway)
4) uk to increase us quota on us agricultural products…that already adheres to Uk standards (basically it allows them to potentially export more, if they raise standards)… the us have also extended quotas so that Uk beef can be exported more to the USA (basically our standards are seen as luxury standards in the USA.. so retail for more)
5) the us have also realised they own industries are being hurt in specific sectors (so for example airbus need rolls Royce engines… those will now be tariff free instead of 10%)
From what I can see so far…. Say it quietly… is a limited deal, but the uk may have stiffed the us in this one
You can see the us were desperate for a deal for optics and the uk have taken advantage
Good to see that despite the normal fear mongering the chlorinated chicken is still not heading our way, even though some said the UK would have to accept it for a deal. Maybe opportunities for British farmers to export more. On the car front, according to the BBC the UK exported 101000 last year so just over the limit now set.
Much of this arrangement has yet to have the full details completed and agreed. We should still expect that the USA will have greater power than we will to dictate the terms. The 2 leaders were both needing some positive economic news this week, so getting the headline summary out, helped them. If there's anything more negative, expect it to be slipped out more quietly, later on "
Every report I have read / watched from various outlets says that any imports of food from the U.S. must meet current UK standards. Starmer and other senior Labour MP's have confirmed this publicly. If they go back on this it will be the end of them politically. One reason given for the insistence on upholding UK standards is to keep close to Europe which they are about to negotiate with. The same fears arose with Australia, New Zealand and Canada but the end result on all was imports into the UK must meet UK standards |
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See the American auto makers have realised they have been bent over shafted by Trump. It still costs more for a comparable car to made in the USA due to tariffs on steel and aluminium plus the tariffs on the otegparts they need. The UK deal at 10% looks like it won last the weekend. Even at 25% it would still make UK cars cheaper than that American built cars. |
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By *ermbiMan 51 weeks ago
Ballyshannon |
"It’s good to know that Trump’s first real trade deal after announcing his tariffs was with us. If only our superior steel from Scunthorpe didn’t cost so much to make, due to extortionate energy prices. If only Labour hadn’t shut down all aluminium production in the UK. If only we hadn’t had decades of deliberate decline of North Sea Oil and Gas.
So it’s great, but could have been far greater."
Nothing great about it. Starmer has now solidified Trumps plan for tariffs. Hrs done Trumps job for him. Rest of world will have continued tariffs in place. How anyone can call this a great outcome is beyond me. |
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By *abioMan 51 weeks ago
Newcastle and Gateshead |
"It’s good to know that Trump’s first real trade deal after announcing his tariffs was with us. If only our superior steel from Scunthorpe didn’t cost so much to make, due to extortionate energy prices. If only Labour hadn’t shut down all aluminium production in the UK. If only we hadn’t had decades of deliberate decline of North Sea Oil and Gas.
So it’s great, but could have been far greater.
Nothing great about it. Starmer has now solidified Trumps plan for tariffs. Hrs done Trumps job for him. Rest of world will have continued tariffs in place. How anyone can call this a great outcome is beyond me. "
The uk negotiators (I won’t stay starmer for now because actual deals take years to complete ) absolutely took advantage of the us (the trump administration) need for a “tariff deal “( remember they said 90 deals in 90 days)
The phone call is optics for Trump, but they got nothing except expansion on quotas they don’t already hit…. In real teams I.e moneys now… the uk negotiators absolutely played them! |
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