UK exports to US immersion on most when tariffs are bite

In April, the goods exported to the United States in the United States decreased by $ 2 billion ($ 2.71 billion), the figures published in the National Statistics Office on Thursday were noted the largest monthly decline since the records in 1997.

The UK export cost has been the lowest of February 2022 at the level of £ 4.1 billion, and ONS said the change was “likely to be related to the sale of tariffs imported in the US.” Cars, chemicals and metals export all parties, said ons.

The United States is imported to the UK, plunging £ 400 million a month to £ 4.7 billion, returning Washington to the goods surplus with the country with the country for the first time since May 2024.

The UK and the US have announced A general trading transaction plan in early MayBut the agreement still imposed 10% of tariffs for British goods aimed at the state and has not yet been fully implemented. US President Donald Trump Universal 25% of Steel and Aluminum responsibilities For the UK, it is planned to cut to zero, and up to 100,000 British cars will be affected by 10%rate per year rather than 25%, but higher tariffs remain in force and the final details of the transaction will be confirmed.

Trump looked relatively profitable on the UK during his second presidency while he has Cut other key trading partners such as the European Union. This is partly with -wit it companionship With British Prime Minister Keir Starr, but primarily because the Britain’s trade relations in the goods were historically Relatively balanced.

Overall, the British trade deficit in the UK increased by £ 4,4 billion to 60 billion pounds before April, while its trading surplus has fallen by £ £ 500.5 billion.

This required a total deficit in the UK up to £ 11.5 billion with £ 6.6 billion.

In its release, noted in its release, what monthly trade data can be “chaotic” and that its next data set will take into account the following trade agreement.

The figures also published ONS on Thursday showed that the UK economy declined by 0.3%, lower than 0.1%, which is expected by the economists surveyed by Reuters. The dominant sector of services in the UK was a weak point, declining 0.4%, and construction production increased by 0.9%.

This implies signs of weakening labor market in the UK at the beginning of the week, and job vacancies decreased by 7.9%, and the employment rate increased to 4.6%from 4.5%. The wage growth rate decreased to 5.3% from 5.6%, and the markets are completely priced at another interest rate on a half -period from the Bank of England by the end of the year.

Business moods remain on the border, thanks State Policy Including a minimum wage growth, New workers’ protection And higher tax rates for employees.

Sanji Raja, British Chief Economist in Deutsche Bank, said the UK economy was “always at the course of the course after a super strong beginning of the year.”

In the first quarter, the height reached 0.7%, accelerating from 0.1% growth in the last quarter of 2024.

“While in April in the coming months, they are likely to soften, they will not be completely dissipated. Despite the UK’s trade treaty from the United States, the uncertainty of trade will remain here.