Donald Trump has confirmed that the UK will be slapped with tariffs, as the President heralded a new era of American "economic independence".
The US President will impose tariffs of 25 per cent on all foreign-made automobiles from midnight.
The levies have been unveiled at White House Rose Garden event and will "be effective immediately” in order to “Make America Wealthy Again”.
He said he will sign a “historic executive order to impose reciprocal tariffs on countries around the world".
“They do it to us, we do it to them. You can’t get any simpler than that.”
He said that the US has been "looted, pillaged, raped and plundered by nations near and far, both friend and foe alike".
Trump said that "hardworking American citizens" have been forced to "sit on the sidelines" for years, as other nations prospered.
"Our taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore," he adds, saying that today the American industry will be "reborn".
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Unveiling a list of the upcoming tariffs, Trump said that Britain will face tariffs of 10 per cent.
Trump said levies will not be fully reciprocal rate but will instead be half the tariff rate for some countries. China which imposes tariffs of 67 per cent will receive a levy of 34 per cent.
Other examples given include Vietnam (90 per cent / 46 per cent); Taiwan (64 per cent / 32 per cent); and Japan (46 per cent / 24 per cent).
The EU - which imposes 39 per cent tariffs - will be hit with a 20 per cent rate.
Eurosceptics have said the EU's higher rate is a win for Brexit Britain.
Deputy head of comms for Leave.EU during the referendum wrote on social media: “Tough day for European Union fanatics as Trump imposes a 20% tariff on the EU but just 10% on Britain, thanks entirely to Brexit decoupling us from EU trade policy.”
A conservative think tank added: “An enormous Brexit Benefit. Now let’s strike a deal with the US to eliminate reciprocal tariffs and enable truly free trade between our two countries.”
A Downing Street source said that Trump's 10 per cent tariff on the UK "vindicates our approach".
Though the levy is "not what we want", [that they are] lower than others vindicates our approach," the source said.
"This is important because the difference between 20 per cent and 10 per cent is lots of jobs. We will keep negotiating, keep cool and calm.
"We want to negotiate a sustainable trade deal, and of course want to get tariffs lowered. Tomorrow, we will continue with that work."
The “baseline” 10 per cent tariff will begin on 12.01am (5.01am UK time) on April 5
Meanwhile, the higher rates on various countries will commence from 12.01am Eastern Time on April 9.
Months ago, Nigel Farage had said Britain could side-step Trump's barrage of European tariffs entirely - but with conditions.
"We're in a very good position to negotiate our own way out not just of tariffs, but to move quite quickly onto some sectoral free trade negotiations," the Reform leader said.
"Trump's personal instinct on trade with the UK, I can tell you first-hand, has always been positive," he added.
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The US President will impose tariffs of 25 per cent on all foreign-made automobiles from midnight.
The levies have been unveiled at White House Rose Garden event and will "be effective immediately” in order to “Make America Wealthy Again”.
He said he will sign a “historic executive order to impose reciprocal tariffs on countries around the world".
“They do it to us, we do it to them. You can’t get any simpler than that.”
He said that the US has been "looted, pillaged, raped and plundered by nations near and far, both friend and foe alike".
Trump said that "hardworking American citizens" have been forced to "sit on the sidelines" for years, as other nations prospered.
"Our taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore," he adds, saying that today the American industry will be "reborn".
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Unveiling a list of the upcoming tariffs, Trump said that Britain will face tariffs of 10 per cent.
Trump said levies will not be fully reciprocal rate but will instead be half the tariff rate for some countries. China which imposes tariffs of 67 per cent will receive a levy of 34 per cent.
Other examples given include Vietnam (90 per cent / 46 per cent); Taiwan (64 per cent / 32 per cent); and Japan (46 per cent / 24 per cent).
The EU - which imposes 39 per cent tariffs - will be hit with a 20 per cent rate.
Eurosceptics have said the EU's higher rate is a win for Brexit Britain.
Deputy head of comms for Leave.EU during the referendum wrote on social media: “Tough day for European Union fanatics as Trump imposes a 20% tariff on the EU but just 10% on Britain, thanks entirely to Brexit decoupling us from EU trade policy.”
A conservative think tank added: “An enormous Brexit Benefit. Now let’s strike a deal with the US to eliminate reciprocal tariffs and enable truly free trade between our two countries.”
A Downing Street source said that Trump's 10 per cent tariff on the UK "vindicates our approach".
Though the levy is "not what we want", [that they are] lower than others vindicates our approach," the source said.
"This is important because the difference between 20 per cent and 10 per cent is lots of jobs. We will keep negotiating, keep cool and calm.
"We want to negotiate a sustainable trade deal, and of course want to get tariffs lowered. Tomorrow, we will continue with that work."
The “baseline” 10 per cent tariff will begin on 12.01am (5.01am UK time) on April 5
Meanwhile, the higher rates on various countries will commence from 12.01am Eastern Time on April 9.
Months ago, Nigel Farage had said Britain could side-step Trump's barrage of European tariffs entirely - but with conditions.
"We're in a very good position to negotiate our own way out not just of tariffs, but to move quite quickly onto some sectoral free trade negotiations," the Reform leader said.
"Trump's personal instinct on trade with the UK, I can tell you first-hand, has always been positive," he added.
More to follow...
Find Out More...