, Columnist
Jaguar and Aston Martin Must Find a Way to Share
The devil is in the details of the UK-US trade agreement.
A 2024 Rolls-Royce Spectre electric vehicle (EV) during the 2024 New York International Auto Show,
Photographer: Bloomberg/BloombergBritain’s luxury-car manufacturers were relieved in May when the US agreed to lower tariffs on their exports to 10% from the 27.5% rate they were facing before.
While the UK-US agreement will help safeguard jobs and the headline tariff rate is superior to the 15% duty the US is set to apply to vehicles from the European Union, it has a potentially aggravating catch: the 10% import tax will apply to the first 25,000 UK vehicles arriving in the US each quarter; whereas those exceeding the cap will be charged 27.5%.