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Entrepreneurs and business owners of the United Kingdom remain in Limbo after the announcement of the commercial agreement between the United States and the United Kingdom, such as the plan to help small and medium enterprises “remains unclear”, according to a business organization of the United Kingdom.
He agreement Announced on Thursday was described by the president of the United States, Donald Trump, as a “historical economic agreement” between the two countries. But, although it included cuts to punitive tariffs on car and steel exports, the final scope of the agreement was limited for the United Kingdom business sector, since it could not reverse the 10 percent flat tax that is applied to most goods.
The Federation of small businesses, a commercial agency, said that small businesses report “low trust”, since they are forced to carry out “damage control” after the interruption caused by Trump fees ads on April 2.
Tina McKenzie, president of FSB’s policies, said: “We welcome the fact that an Initial American-Re-Real Economic Economic Agreement has been reached, which is significant in itself.
“But with a large 10 percent tariffs they probably remain in their place, we need to see what is in the plan to boost SME trade, and that still is not clear.”
McKenzie said small businesses have faced a generalized interruption since the tariffs arrived. “They are dealing with a drop in demand for their assets and have had to reduce their rank, something that is turning what should be damage control growth,” he added.
McKenzie’s thoughts were echoed by the director of International Affairs of FSB, Lucy Monks, who added that it was “difficult” to see the continuation of the barriers established last month with the introduction of tariffs.
Global commercial tensions caused the Bank of England degrade Some of his United Kingdom economic forecasts this week. In a speech on Friday, Governor Andrew Bailey said: “When I turn the country in the United Kingdom, companies tell me:” We are delaying investments because we are too uncertain about how the world will look. “
However, for larger companies, the initial agreement has been welcome as a sign of improvement in commercial relations with the US, with the British chambers of commerce pointing out that many companies will comply with this news with a “great sigh of relief”, but acknowledged that an impulse is needed to help all sectors.
“This should not be the end of the process; we must continue to press the argument of free trade and just in all economic sectors and that tariffs are a lost position,” said Shevaun Haviland, general director of the BCC.
Andreas Adamides, executive director of Entrepreneur Network Helm, was optimistic about the agreement. “For companies in the United Kingdom, this agreement opens the opportunity gates previously retained by tariffs and regulatory friction.”
“The elimination of customs bureaucracy means that British innovation can move more efficiently to the world’s largest economy, creating a powerful current that will raise companies to both sides of the Atlantic,” he added.
In statements to the workers of the Jaguar Land Rover factory in West Midlands on Thursday, the United Kingdom Prime Minister Sir Keir Starmer said that this agreement was the beginning of the process. “This is Jobs Saved, Jobs won, but not work, and our teams will continue working to take advantage of this agreement,” he said.