UK goods exports to the US fell to their lowest level in three years in June, dropping to £3.9 billion ($5.3 billion). This figure is £0.7 billion lower than in May and approximately 20% lower than the 2024 average.
The decline follows President Donald Trump’s first wave of tariffs in April. Exports fell across all product groups; In particular, machinery and transport equipment (including cars) fell by £0.2 billion.
British Prime Minister Keir Starmer and Trump lowered high tariffs on automobile and aerospace parts with the trade agreement that came into effect on June 30, but a 10% tariff remains on many products, including steel.
Between April and June, exports to the US fell by more than 25% while imports increased by £0.2 billion; The main reason for this increase was the rise in aircraft sales.
