Jaguar Land Rover halts US shipments as Trump’s tariffs spark chaos | UK | News | EUROtoday

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Jaguar Land Rover is halting shipments to the United States as corporations start to really feel the rapid results of latest US tariffs, introduced by President Donald Trump earlier this week. The British carmaker confirmed it could “pause” exports whereas it really works to “address the new trading terms.”

The information follows the introduction of a 25% levy on all overseas automobiles imported into the US and a wider 10% tariff on international imports, which got here into pressure on Saturday. A JLR spokesperson mentioned: “The USA is an important market for JLR’s luxury brands. As we work to address the new trading terms with our business partners, we are taking some short-term actions, including a shipment pause in April, as we develop our mid- to longer-term plans.”

The assertion factors to longer-term changes, suggesting the corporate is just not treating the tariffs as a short-term disruption.

The announcement got here as monetary markets reacted sharply to the tariffs.

The FTSE 100 recorded its worst day of buying and selling for the reason that begin of the pandemic, with virtually each inventory within the index falling.

Rolls-Royce, main banks and mining companies have been among the many greatest losers.

Markets on Wall Street additionally dropped within the aftermath of the White House announcement on Wednesday, amid considerations the measures might result in wider financial fallout.

Sir Keir Starmer is known to be holding a collection of calls with worldwide leaders over the weekend. On Friday he spoke to the prime ministers of Australia and Italy, with all three reportedly agreeing {that a} commerce struggle could be “extremely damaging”.

A Downing Street spokesperson mentioned: “The Prime Minister has been clear the UK’s response will be guided by the national interest. Officials will calmly continue with our preparatory work, rather than rush to retaliate.”

They added: “He discussed this approach with both leaders, acknowledging that while the global economic landscape has shifted this week, it has been clear for a long time that like-minded countries must maintain strong relationships and dialogue to ensure our mutual security and maintain economic stability.”

https://www.express.co.uk/news/uk/2037577/jaguar-land-rover-us-shipments-trump-tariffs