The US announced what it described as ‘reciprocal tariffs’ on all nations. These ‘reciprocal tariffs’ for each country were determined by a formula based on the trade deficit that the US has with each country or the tariff rate that the country imposes on U.S. imports.

Introducing ‘reciprocal tariffs’ at some stage was unsurprising, as the president made changing trade terms and trying to leverage changes in other countries’ tariffs a priority. 

For the UK, this means a 10% reciprocal tariff on UK exports matching the 10% tariff the U.K. imposes on imports from the U.S.

In addition, however, the US also imposed a 25% global tariff on cars, following tariffs of 25% on US imports of steel and aluminium (and derivative products) announced on 12 March. 

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