The US imposed tariffs earlier in the year on the UK  and European imports and we are already seeing issues financially for people such as Aston Martin.

In a statement on Monday, Aston Martin Lagonda said: “The global macroeconomic environment facing the industry remains challenging.

“This includes uncertainties over the economic impact from US tariffs and the implementation of the quota mechanism, changes to China’s ultra-luxury car taxes and the increased potential for supply chain pressures, particularly following the recent cyber incident at a major UK automotive manufacturer.”

The JLR Cyber attack caused issues for the firm with supply and added to the US tariffs imposed, the futures is looking challenging.

The group has seen shares come under pressure this year over concerns about the impact of Donald Trump’s tariff war.

The firm limited shipments to the US in the second quarter after the president imposed a 25% tariff on car imports in April.

It then resumed shipments in June as the UK reached an agreement with the US for a lower 10% tariff on UK-made cars for the first 100,000 vehicles per manufacturer.

Anything above that threshold will be hit with a 27.5% duty.

But Aston Martin said the tariffs were still having an impact on performance.

It hopes that profitability and free cash flow will “materially” improve in 2025-26 as it cuts costs and ramps up delayed production of its Valhalla model – the group’s first plug-in hybrid mid-engine supercar.

One thing is for sure, the future is looking uncertain either way for the UK exports and the new age of electric cars will be the ones suffering in the short term.

Source: BBC News