The Guardian24 Jul 2026Macro
Automatically composed with AI from the cited sources
The EU’s blanket US tariff was cut from 15% to 10% under a new deal, while UK goods outside the Economic Prosperity Deal sectors face a combined 22.5% levy due to an additional 12.5% tariff on items like knitwear. The UK’s headline 10% rate and preferential terms for cars, pharmaceuticals and aerospace remain unchanged, but clothing, chemicals and beverages now face a competitive gap. A separate announcement eliminated US tariffs on Scotch whisky, with the first zero-tariff shipment departing within 48 hours. Products where the EU has lower tariffs account for about £5bn of UK exports.
Context
It confirms the UK’s trade disadvantage flagged earlier on 24 July .
