The UK suspends the import tariff to reduce the pressure on British companies

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The UK stopped the import tariff on 89 products and increased loan facilities for exporters to reduce the pressure on British companies after the worthy of American fees.

The fees on goods that range from pasta to juices, plastic materials, plywood and gardens will be reduced to zero for two years, in a move that will provide the UK government estimates at least 17 million pounds annually.

Chancellor Rachel Reeves has announced an increase of 20 billion pounds in the government -backed financing capacity on Sunday to help companies confront the global trade war.

The UK Prime Minister, Sir Kerr Starmer, hopes that the cost of producers will decrease.

“From food to furniture, this will reduce the cost of the daily elements of companies, while providing savings to consumers,” said Business Secretary Jonathan Reynolds.

The government said it will provide support for the available financing for British exporters by financing export in the United Kingdom (UKF), a government credit agency for exporters, by 20 billion pounds to 80 billion pounds. Small companies will also be able to reach 2 million pounds through the loan facility.

The move comes after US President Donald Trump imposed a 10 percent blanket tariff on all the commodities exported by the two countries to the United States.

Trump initially announced much higher materials for many countries, but he returned to this step after a violent reaction in the market that caused the decline in global stocks.

Separately a 25 percent tariff was imposed on all imports of steel, aluminum and cars to the United States.

British officials are increasingly sure that they will be able to negotiate a trade agreement with the United States that would relieve the United Kingdom from the tariff system.

Reynolds said he could not “give a schedule” when the public expects to expect trade negotiations between the United Kingdom and the United States. But he told Sky News, “It will never be satisfied while there are obstacles to trade between us and the United States.”

Reeves confirmed during the weekend’s support for the government’s free trade support and said it was not under an illusion on the “deep” difficulties awaiting us after the United States turned into commercial policy.

“The Labor Party is an international party. We understand the benefits of free trade and fair cooperation. Now it is not the time to transform our backs on the world.”

Reeves confirmed that the UK was trying to formulate a new ambitious relationship with the European Union as well as a trade deal with India.

The government also seeks to obtain bilateral trade deals with the Gulf Cooperation Council, Switzerland and South Korea.