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Donald Trump’s UK Trade Deal Could Secure Jaguar’s Resurrection
A US deal to drop car tariffs from 25 to 10 percent could bolster UK luxury car sales—but only for the first 100,000 vehicles. This is particularly welcome news for Jaguar Land Rover.
The 25 percent tariff on vehicle imports into the US was implemented in early April and extended to auto parts last week, a move that affected the car market as Britain’s largest export to the US, worth about $12 billion to the UK economy last year. Sales of JLR’s present range have dropped by two-thirds in five years, and having to factor in the planned 25 percent tariffs on cars destined for the US must have been a major concern for the company’s executives. A White House fact sheet on the “Historic Trade Deal” says it will “usher in a golden age of new opportunity for US exporters and level the playing fields for American producers.”
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