JCB Welcomes UK-US Trade Deal And Urges Starmer To Go Further

JCB has welcomed the announcement of the UK–US trade deal and called on Prime Minister Keir Starmer to ensure this is the start, not the end of negotiations. The PM and the Business Secretary were urged to move quickly to the next stage of lowering reciprocal tariffs on all traded goods to zero per cent.

JCB CEO Graeme Macdonald said: ”As a UK manufacturer, JCB welcomes the reduction in car export tariffs from 27.5% to 10% for the first 100,000 cars exported. Likewise, we share in the relief that the UK steel industry must feel right now knowing that tariffs on steel exports will drop from 25% to zero. However, the PM and the Business Secretary Jonny Reynolds must now go further and negotiate the removal of the 10% baseline tariff on UK-made construction equipment, as well as on all UK-made cars and all other traded goods."

Macdonald added: “Today’s developments are good news for certain industries and we welcome today’s news, but let this be the start of the negotiations, not the end. Let’s move onto Stage 2 quickly and eliminate all reciprocal tariffs. It’s in the interests of all UK manufacturers, and ultimately, it’s in the national interest.”

JCB Chairman Anthony Bamford said: “The USA is the world’s largest market for construction equipment. JCB has been manufacturing there for 50 years, so it’s vital we have a strong presence in the US market. We will carry on with our recently announced plans to double the size of our new factory in San Antonio, Texas but the USA will still remain an important export market for certain UK-made machines. Ultimately, we need the removal of that 10% baseline tariff to support the export side of our business.”