WASHINGTON - President Donald Trump announced in the Oval Office on May 8 that he had lowered tariffs on automobiles for the United Kingdom, specifically benefiting high-end British auto manufacturers like Rolls-Royce, Bentley, and Jaguar that produce vehicles in the UK.
Trump highlighted the exclusivity and craftsmanship of Rolls-Royce vehicles, priced between $350,000 and $520,000 for new models, stating, "They make a very small number of cars that are super luxury."
As part of the trade agreement with the UK, Trump reduced the 25% universal tariffs on British automobiles to 10%, while maintaining the 25% rate for vehicles from other countries. He also agreed to eliminate 25% tariffs on steel from the UK.
Trump differentiated luxury British vehicles from mass-produced cars, emphasizing the craftsmanship and heritage of brands like Rolls-Royce, Bentley, and Jaguar.
Regarding the U.S.-UK trade pact, Trump mentioned that the UK has agreed to lower certain tariffs on American exports, with further details to be finalized.
Trump indicated that similar tariff reductions on automobiles may not be extended to other countries, as the US continues trade negotiations with multiple nations. Talks with China are set to commence in Geneva this weekend.
Contact Joey Garrison on X @joeygarrison.