Voters in Michigan, Texas, Tennessee, and Washington D.C. mull over President Trump’s newly enacted tariffs and discuss their short and long term impacts.
U.K. Prime Minister Keir Starmer suspended tariffs on 89 British products in a bid to ease the strain on businesses in the middle of President Donald Trump’s trade war.
Tariffs are taxes that a government places on imported goods.
The suspension of tariffs on U.S. imports ranges from items like pasta, fruit juices, electric car batteries and spices to plastics and gardening supplies over the next two years, according to the U.K. government’s announcement Sunday.
“As we face a new era of global trade, this government is going further faster to make Britain the best country to do business, delivering on our Plan for Change. These suspensions are just another example of that,” Jonathan Reynolds, U.K. business and trade secretary, said in a statement.
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United Kingdom Prime Minister Keir Starmer announces suspension of tariffs on 89 products. (Andrew Harnik)
Plywood and plastics, major construction building blocks, are also included in the list of items. The U.K. government predicts it could save businesses £17 million, which is between $19 million and $22 million.
“In the face of an uncertain and unpredictable global trading environment, government should be commended for suspending import duties on an array of products,” the Confederation of British Industry’s international director Sean McGuire said in a statement. “Measures like these will be important for reducing the financial pressures on firms and help to drive growth for businesses of all sizes across the country.”
The suspensions follow Trump’s executive order on “reciprocal tariffs,” to match duties imposed on U.S. goods by other countries in an effort to restore what the administration deems “fairness” to global trade. As part of the move, the U.K. was hit with a blanket 10% tariff from the U.S. in addition to existing 25% duties on aluminum, steel, vehicles and car parts earlier this month.
TRUMP’S TARIFFS: WHAT TARIFFS HAVE BEEN IMPOSED ON MAJOR TRADING PARTNERS OR PAUSED
President Donald Trump displays a signed executive order imposing tariffs on imported goods during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2. (Andrew Harnik / Getty Images)
Trump vowed Sunday that no country would get “off the hook” for what he called unfair trade imbalances and tariff barriers long used against the U.S.
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“What has been exposed is that we need to make products in the United States, and that we will not be held hostage by other Countries, especially hostile trading Nations like China, which will do everything within its power to disrespect the American People,” Trump wrote on Truth Social Sunday. “We also cannot let them continue to abuse us on Trade, like they have for decades, THOSE DAYS ARE OVER!”
China responded to the U.S.’s 145% tariff on Chinese imports by imposing a 125% tariff on all goods coming from the U.S.
FOX Business has reached out to the White House for comment.
