Select committee: Business, Innovation, Science and Trade Committee
Conclusion 1
6th Report - The UK-US economic relationship: 250 years on
Published 4 Jul 2026
Addressed to Department for Business and Trade
Business, Innovation, Science and Trade Committee UK trade with the US All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
US tariffs are now a structural feature of the trading environment and will persist. In our conversations with allies around the world, few expect tariffs to return to their prior levels after the next US Presidential election. The UK’s effective tariff rate is among the lowest in the G7, but this is only a comparative advantage in a worse environment. UK firms continue to report ongoing costs and frictions in navigating the US’s evolving regime and UK goods exports to the US have declined in tariff-exposed categories. The complexity of the regime falls disproportionately on smaller firms least able to absorb its impacts and complexities. (Conclusion, Paragraph 23)
From: Business, Innovation, Science and Trade Committee, 6th Report - The UK-US economic relationship: 250 years on (HC 127), 4 July 2026
Government response
No government response linked yet: deadline 4 September 2026, 58 days ago.