US collects $1.36bn in tariffs on British goods as Trump’s trade duties bite

The US has collected $1.36 billion in tariffs on British exports in just four months, six times more than in the same period last year, highlighting the toll of President Donald Trump’s duties on UK manufacturers.

According to estimates from the US International Trade Commission, American buyers of British goods paid significantly more in tariffs between April and July than importers of French or Spanish products, despite concessions negotiated under the UK–US trade deal that came into effect at the end of June.

The figures show UK goods faced the 12th-highest level of tariffs of any country, well ahead of Spain ($615m) and slightly above France ($1.35bn). British exports attracted $211m in duties during the same four-month stretch in 2024.

While Britain secured lower rates on key exports such as autos and steel, the tariff rate on UK goods remains 10%, compared with the 15% imposed on EU exports from 7 August.

A government spokesperson said: “The UK was the first country to agree a deal with the US on key sectors, secured the lowest tariffs of any country on autos and steel and has received one of the lowest reciprocal tariff rates in the world. We will only ever sign trade deals in the national interest.”

The US tariff take has risen sharply overall. Imports from China generated $36bn in duties between April and July—more than double the prior year—followed by Mexico ($7.6bn) and Japan ($6.5bn).

The Peterson Institute for International Economics estimates that the US collected around $122bn in tariff revenue between January and July this year, driven by rising effective tariff rates now averaging 18.6%—the highest since 1933.

Analysts warn that while tariff revenues may continue to climb in the short term, they risk suppressing overall trade volumes. Sam Lowe, partner at Flint Global, said growth will eventually flatten: “You could expect tariff revenue to continue to grow, but volumes either grow at a slower rate or fall because the tariff itself will have an impact on the amount of trade as well.”

Much of the US revenue has come from industrial intermediates ($40bn) and consumer goods ($39bn), with capital goods and raw materials far less affected.

For UK exporters, however, the latest data underscores that even with concessions, Britain remains exposed to the sharp edge of Trump’s trade strategy.

Read more:
US collects $1.36bn in tariffs on British goods as Trump’s trade duties bite