Jaguar Land Rover (JLR) has mentioned it can “pause” shipments to the US because the British automotive agency works to “handle the brand new buying and selling phrases” of Donald Trump’s tariffs.
The US president has launched a 25% levy on all international vehicles imported into the nation, which got here into pressure on Thursday.
JLR, one of many nation’s greatest carmakers, exported about 38,000 vehicles to the US within the third quarter of 2024 – virtually equal to the quantity offered to the UK and the EU mixed.
Observe stay updates: Trump’s baseline 10% tariff kicks in
In an announcement on Saturday, a spokesperson for the corporate behind the Jaguar, Land Rover and Vary Rover manufacturers mentioned: “The USA is a crucial marketplace for JLR’s luxurious manufacturers.
“As we work to deal with the brand new buying and selling phrases with our enterprise companions, we’re taking some short-term actions together with a cargo pause in April, as we develop our mid- to longer-term plans.”
The corporate launched an announcement final week earlier than Mr Trump introduced a “baseline” 10% tariff on goods from world wide, which kicked in on Saturday morning, on what he referred to as “liberation day”.
JLR reassured clients its enterprise was “resilient” and “accustomed to altering market circumstances”.
“Our priorities now are delivering for our purchasers world wide and addressing these new US buying and selling phrases,” the agency mentioned.
Buying and selling internationally has been hit by Mr Trump’s tariff announcement on the White Home on Wednesday.
All however one inventory on the FTSE 100 fell on Friday – with Rolls-Royce, banks and miners amongst these to undergo the sharpest losses.
Learn extra: A red wall on Wall Street – but Trump seems to believe it will work out
Automobiles are the highest product exported from the UK to the US, with exports price £8.3bn within the yr to the tip of September 2024, in keeping with information from the Workplace for Nationwide Statistics.
For UK carmakers, the US is the second largest export market behind the European Union.
Trade teams have beforehand warned the tariffs will pressure companies to rethink the place they commerce, whereas a report by thinktank the Institute for Public Coverage Analysis mentioned greater than 25,000 automotive manufacturing jobs within the UK might be in danger.
