The US President said the tariffs could come into force as early as 2 April – the day after members of his cabinet are due to deliver reports to him on options for a range of import duties.
The UK Treasury is understood by The i Paper to have conducted “extensive planning” for Washington imposing levies on key UK industries, including the auto sector, ahead of an announcement.
President Donald Trump speaks at Mar-a-Lago in Palm Beach (Photo: AP)The i Paper revealed on Sunday that luxury British marques such as Bentley, Rolls-Royce, Jaguar Land Rover and Aston Martin, who all sell substantial numbers of cars to wealthy US customers, could be among those hardest hit.
Modelling by Oxford Economics, a leading economic forecasting think-tank, suggests that UK vehicle exports could drop by more than 7 per cent as a result of the tariffs.
Any drop in sales and production could threaten thousands of jobs in manufacturing centres, such as the West Midlands.
A similar drama played out in 2018 and 2019 during Trump’s first term, when the Commerce Department conducted a national security investigation into auto imports and found that they weakened the domestic industrial base.
Rolls-Royce and Range Rover among UK car brands facing Trump tariff pain
Read MoreTrump also said on Tuesday that sectoral tariffs will likely be levied on pharmaceuticals and semiconductor chips in April.
Trump has also said that 25 per cent tariffs will be levied on all imported steel and aluminum, beginning on 12 March.
Since his inauguration, Trump has imposed a 10 per cent tariff on all imports from China, on top of existing levies.
He also announced, and then delayed for a month, 25 per cent tariffs on goods from Mexico and non-energy imports from Canada.
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