Under threat of Trump tariffs, UK posts rare goods trade deficit with US

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Under threat of Trump tariffs, UK posts rare goods trade deficit with US - Business Standard

Quick Summary:

Machinery and transport equipment account for the biggest chunk of goods imports and exports between Britain and the United States, according to the ONS, while the US is a major source of fuels for Britain.

Overall trade during the fourth quarter was a net drag on Britain's economy but other factors, including higher government spending and a run-up in inventories, helped it to unexpectedly eke out growth of 0.1 per cent.

Excluding big swings seen during the height of the COVID-19 pandemic, it marked the first goods trade deficit with the US since 2011.