The British government has prepared £20 billion (approximately €23 billion) in aid for exporters.
This package aims to help businesses stay afloat amid the trade war sparked by U.S. President Donald Trump.
The existing export fund has been bolstered by an additional £20 billion, raising the total to £80 billion, the Finance Ministry announced on Sunday. “Thousands of companies will be able to benefit from this initiative, including those directly affected by the U.S. tariffs and iconic British brands such as Rolls Royce,” the ministry stated.
Earlier this year, President Trump imposed a 25% tariff on the import of steel, aluminium, and cars. Recently, he added a general 10 percent tariff on all British exports but later decided to delay these additional tariffs by 90 days.
London and Washington have been negotiating their trade relations for weeks, but there is little information about the current status of these discussions.
British Trade Minister Jonathan Reynolds told Sky News on Sunday that “all options remain on the table” if the U.S. and the UK do not reach an agreement.
