UK’s Truss: Pleased that the US has not applied additional tariffs

Dhwani Mehta FXStreet

Offering positive feedback on the trade talks with the US, the UK Trade Secretary Liz Truss said she is “pleased that the US has not applied additional tariffs.”

Additional quotes

“Announcement does not address tariffs that already exist on goods like single malt scotch whisky.”

“I am therefore stepping up talks with the US to remove them as soon as possible.”

The comments after the US announced on Wednesday that it would maintain 15% tariffs on Airbus aircraft and 25% tariffs on other European goods.

The Scotch Whisky Association, Chief Executive Karen Betts, however, said: “The tariff is inflicting huge damage on the Scotch Whisky sector, with exports to the US down 30% since the tariff came into effect and the industry grappling with losses now totalling around 300 million pounds ($392 million).”

Market reaction

GBP/USD refreshed fresh daily highs at 1.3082, helped by fresh US dollar selling across the board. The upbeat remarks also boost the sentiment around the cable.

The spot was last seen trading at 1.3072, up 0.30% on a daily basis.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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