April 13, 2025 - 08:01
In a significant move to bolster its export sector, the UK government announced an expansion of financing support for exporters, making an additional £20 billion (approximately $26 billion) available. This initiative aims to provide much-needed stability and certainty for businesses navigating the complexities of a shifting global trade landscape.
The decision comes in the wake of heightened uncertainty stemming from tariffs imposed by the United States under the previous administration. These tariffs, which include a 25% levy on steel, aluminium, and automotive imports, along with a 10% baseline tariff on various other goods, have raised concerns among UK exporters about their competitiveness and market access.
By expanding financial assistance, the UK government aims to mitigate the impact of these tariffs and support businesses in adapting to the new trade environment. This initiative is part of a broader strategy to enhance the resilience of UK exporters as they face ongoing challenges in international markets. The government emphasizes its commitment to fostering a robust export economy in this evolving landscape.
