The renewables industry is counting the cost of US President Donald Trump’s tariffs amid warnings they will have a “devastating” impact on manufacturing.
CEO of manufacturing trade body Make UK Stephen Phipson said: “The US President’s announcement of 10% tariffs on UK goods exported to the United States and 25% tariffs on British made autos, steel and aluminium is devastating for UK manufacturing.
“Not only will volumes of direct exports to the US decline but it will destroy decades of integrated supply chains connecting the UK with US through other trading partners such as the EU, Canada and Mexico who are also impacted by US tariffs.”
Solar industry sources said that if the tariffs make solar panels more expensive in the US, they would become cheaper in other markets due to oversupply.
Phipson added that for decades the UK and the US have enjoyed a balanced trade relationship.
“It is highly disappointing that the strength of this relationship, at a time of where both countries need to boost shared growth, employment opportunities and innovation options, does not extend to enhancing free trade rather the reverse”, Phipson said.
Make UK is calling on Government to convene a Tariffs Taskforce that will bring together a full spectrum of British industry, alongside relevant government departments to help companies navigate their way through the new tariff complexities and uncertainties.
Renewables groups are still digesting the tariff announcement.
More to follow…
