UK goods exports to the US plummeted by £2 billion in April, the largest monthly decline since 1997. This follows the implementation of US tariffs on British goods, despite a recently announced trade deal outline. While a 10% blanket tariff is in place, higher duties remain on certain products like steel, aluminum, and autos. The UK's overall trade deficit widened significantly, reaching £60 billion in the three months to April.

Prepared by Christopher Adams and reviewed by editorial team.