Britain: Financial Support of Export Businesses amid concern for US duties

By 20 billion pounds (23 billion euros) the British Government will expand export support for exporting businessincluding those affected by US dutiesaccording to yesterday’s (12.4.2025) announcement.

US duties announced by US President Donald Trump have intensified uncertainty about British businesses about their exposure to the new trade regime.

The US has imposed a 25% duties on imports of steel, aluminum and cars, as well as a 10% key duty on other imports from most countries around the world, including Britain.

The Starmer government has announced that the measure is increasing the lending capacity of the British Export Credit Insurance Agency (UKEF) to 80 billion pounds (€ 92 billion). Up to 10 billion pounds (€ 11.5 billion) are intended to support businesses most affected by the short -term duties.

“People are changing, so it is more important than ever to support our world’s leading businesses and support them to face future challenges,” Finance Minister Rachel Ribs said.

Small and medium -sized enterprises will also have access to loans of up to 2 million pounds (EUR 2.3 million) under the program.

Source: RES-EIA