CNBC | Fri, May 1 2026 • 11:11 AM EDT

U.K. goods exported to the U.S. plunged around 25% following President Trump's "liberation day" tariff blitz and have remained muted since, official data shows. Goods exports to the United States, excluding precious metals, fell by £1.5 billion, or 24.7%, according to the Office for National Statistics. Car exports from the U.K. to the States have also fallen and languish below pre-tariff levels. While U.K. exports of goods have stayed low, imports of goods increased at the start of 2026, leading to a trade deficit with the country's largest trading partner for three months in a row. Samuel Edwards, head of client portfolio management at Ebury, said the scale of downturn is likely to have consequences on overall UK growth. Exporters face a triple squeeze of higher trading costs, raised employment costs, and input price pressures.

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