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New US tariff regime could see UK become less competitive, experts warn
['Holly Williams', 'Press Association Business Editor', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
The plans have seen America hit 60 countries including the UK with trade tariffs of between 10% and 12.5% over forced labour concerns.
There are worries that the UK could become less competitive as US imports from other countries will be treated differently under the new regime.
"It is crucial that the UK continues negotiations to ensure our companies have the best possible long-term trading terms with the US.
"The Government will need to keep a close eye on developments to keep the UK at the front of the pack."
Simon Geale, executive vice president at procurement and supply chain consultancy Proxima, said UK companies risk being "caught off-guard" by the new tariffs.