The UK Fashion & Textile Association (UKFT) has expressed disappointment over the US warning that it could put tariffs of up to 25 per cent on a host of UK exports in retaliation for a UK tax on technology firms. The duties are designed to raise $325 million, the amount the United States believes the UK tax will raise from US technology companies, the UKFT said.
The tariffs are now subject to a consultation in the US over the next few weeks.The UK Fashion & Textile Association has expressed disappointment over the US warning that it could put tariffs of up to 25 per cent on a host of UK exports in retaliation for a UK tax on technology firms. The duties are designed to raise $325 million, the amount the US believes the UK tax will raise from US technology companies, the UKFT said.#
The UK exports include women’s and girl’s dresses, men’s and women’s coats, men’s shirts, ties, shoes and jewellery, according to a list published by the US administration.
“It was only earlier this month that the US removed additional tariffs on some UK-made fashion products so it is hugely disappointing that yet again our manufacturers are threatened with additional tariffs, particularly as the trade dispute has nothing to do with our industry,” UKFT chief executive officer Adam Mansell said.
“At a time when we are trying to start discussions over a UK-US trade deal, it is extremely important that both governments get around the table to remove this threat as soon as possible. With the industry still struggling with the impact of Covid-19 and understanding the new trade arrangements with the EU, an additional burden on our exports couldn’t come at a worse time,” he added.
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