Latest news with #Hull-based
Glasgow Times
2 days ago
- Automotive
- Glasgow Times
US tariff relief for UK carmakers and aerospace comes into force
Car manufacturers exporting to the US will face a 10% tariff quota, down from 27.5%, while the aerospace sector will see a 10% levy removed entirely. Sir Keir hailed the 'historic trade deal' with the US, clinched after Donald Trump imposed the import taxes as part of his 'liberation day' tariffs on countries across the world. US President Donald Trump (left) and Prime Minister Sir Keir Starmer speaking to the media at the G7 summit in Kananaskis, Alberta, Canada (Stefan Rousseau/PA) The Prime Minister and US president finalised the deal for those sectors at the G7 summit, but levies on steel have been left standing at 25% rather than falling to zero as originally agreed. Talks are ongoing to secure 0% tariffs on core steel products from the UK. The executive order signed by Mr Trump suggests the US wants assurances on the supply chains for UK steel intended for export, as well as on the 'nature of ownership' of production facilities. Sir Keir said: 'Our historic trade deal with the United States delivers for British businesses and protects UK jobs. 'From today, our world-class automotive and aerospace industries will see tariffs slashed, safeguarding key industries that are vital to our economy. 'We will always act in the national interest – backing British businesses and workers, delivering on our Plan for Change.' Business and Trade Secretary Jonathan Reynolds said the deal would save hundreds of millions each year and safeguard thousands of jobs. 'We agreed this deal with the US to protect jobs and support growth in some of our most vital sectors – and today, we're delivering on that promise for the UK's world-class automotive and aerospace industries.' Kevin Craven, head of aerospace trade association ADS, said the sector 'hugely appreciated' the efforts to reach a deal. Society of Motor Manufacturers and Traders chief executive Mike Hawes said the agreement was 'good news for US customers and a huge relief for the UK automotive companies that export to this critically important market'. The Government is also due to update Parliament on Monday on ethanol and quotas on US beef. Under the deal, it was agreed that a 20% tariff on US beef imports to the UK be removed and the quota for US beef raised to 13,000 metric tonnes. The Vivergo Fuels site near Hull (Vivergo Fuels/PA) A 19% tariff on ethanol imports from the US is also due to be removed, with a tariff-free quota of 1.4 billion litres of US ethanol applied. The bioethanol industry says the deal has made it impossible to compete with heavily subsidised American products. The UK's largest bioethanol plant warned last week that it could be weeks from stopping production. Hull-based Vivergo Fuels said the start of talks with the Government was a 'positive signal' but that it was simultaneously beginning consultation with staff to wind down the plant.
The Herald Scotland
2 days ago
- Business
- The Herald Scotland
US tariff relief for UK carmakers and aerospace comes into force
Sir Keir hailed the 'historic trade deal' with the US, clinched after Donald Trump imposed the import taxes as part of his 'liberation day' tariffs on countries across the world. US President Donald Trump (left) and Prime Minister Sir Keir Starmer speaking to the media at the G7 summit in Kananaskis, Alberta, Canada (Stefan Rousseau/PA) The Prime Minister and US president finalised the deal for those sectors at the G7 summit, but levies on steel have been left standing at 25% rather than falling to zero as originally agreed. Talks are ongoing to secure 0% tariffs on core steel products from the UK. The executive order signed by Mr Trump suggests the US wants assurances on the supply chains for UK steel intended for export, as well as on the 'nature of ownership' of production facilities. Sir Keir said: 'Our historic trade deal with the United States delivers for British businesses and protects UK jobs. 'From today, our world-class automotive and aerospace industries will see tariffs slashed, safeguarding key industries that are vital to our economy. 'We will always act in the national interest – backing British businesses and workers, delivering on our Plan for Change.' Business and Trade Secretary Jonathan Reynolds said the deal would save hundreds of millions each year and safeguard thousands of jobs. 'We agreed this deal with the US to protect jobs and support growth in some of our most vital sectors – and today, we're delivering on that promise for the UK's world-class automotive and aerospace industries.' Kevin Craven, head of aerospace trade association ADS, said the sector 'hugely appreciated' the efforts to reach a deal. Society of Motor Manufacturers and Traders chief executive Mike Hawes said the agreement was 'good news for US customers and a huge relief for the UK automotive companies that export to this critically important market'. The Government is also due to update Parliament on Monday on ethanol and quotas on US beef. Under the deal, it was agreed that a 20% tariff on US beef imports to the UK be removed and the quota for US beef raised to 13,000 metric tonnes. The Vivergo Fuels site near Hull (Vivergo Fuels/PA) A 19% tariff on ethanol imports from the US is also due to be removed, with a tariff-free quota of 1.4 billion litres of US ethanol applied. The bioethanol industry says the deal has made it impossible to compete with heavily subsidised American products. The UK's largest bioethanol plant warned last week that it could be weeks from stopping production. Hull-based Vivergo Fuels said the start of talks with the Government was a 'positive signal' but that it was simultaneously beginning consultation with staff to wind down the plant.
Western Telegraph
2 days ago
- Automotive
- Western Telegraph
US tariff relief for UK carmakers and aerospace comes into force
Car manufacturers exporting to the US will face a 10% tariff quota, down from 27.5%, while the aerospace sector will see a 10% levy removed entirely. Sir Keir hailed the 'historic trade deal' with the US, clinched after Donald Trump imposed the import taxes as part of his 'liberation day' tariffs on countries across the world. US President Donald Trump (left) and Prime Minister Sir Keir Starmer speaking to the media at the G7 summit in Kananaskis, Alberta, Canada (Stefan Rousseau/PA) The Prime Minister and US president finalised the deal for those sectors at the G7 summit, but levies on steel have been left standing at 25% rather than falling to zero as originally agreed. Talks are ongoing to secure 0% tariffs on core steel products from the UK. The executive order signed by Mr Trump suggests the US wants assurances on the supply chains for UK steel intended for export, as well as on the 'nature of ownership' of production facilities. Sir Keir said: 'Our historic trade deal with the United States delivers for British businesses and protects UK jobs. 'From today, our world-class automotive and aerospace industries will see tariffs slashed, safeguarding key industries that are vital to our economy. 'We will always act in the national interest – backing British businesses and workers, delivering on our Plan for Change.' Business and Trade Secretary Jonathan Reynolds said the deal would save hundreds of millions each year and safeguard thousands of jobs. 'We agreed this deal with the US to protect jobs and support growth in some of our most vital sectors – and today, we're delivering on that promise for the UK's world-class automotive and aerospace industries.' Kevin Craven, head of aerospace trade association ADS, said the sector 'hugely appreciated' the efforts to reach a deal. Society of Motor Manufacturers and Traders chief executive Mike Hawes said the agreement was 'good news for US customers and a huge relief for the UK automotive companies that export to this critically important market'. The Government is also due to update Parliament on Monday on ethanol and quotas on US beef. Under the deal, it was agreed that a 20% tariff on US beef imports to the UK be removed and the quota for US beef raised to 13,000 metric tonnes. The Vivergo Fuels site near Hull (Vivergo Fuels/PA) A 19% tariff on ethanol imports from the US is also due to be removed, with a tariff-free quota of 1.4 billion litres of US ethanol applied. The bioethanol industry says the deal has made it impossible to compete with heavily subsidised American products. The UK's largest bioethanol plant warned last week that it could be weeks from stopping production. Hull-based Vivergo Fuels said the start of talks with the Government was a 'positive signal' but that it was simultaneously beginning consultation with staff to wind down the plant.
South Wales Argus
2 days ago
- Automotive
- South Wales Argus
US tariff relief for UK carmakers and aerospace comes into force
Car manufacturers exporting to the US will face a 10% tariff quota, down from 27.5%, while the aerospace sector will see a 10% levy removed entirely. Sir Keir hailed the 'historic trade deal' with the US, clinched after Donald Trump imposed the import taxes as part of his 'liberation day' tariffs on countries across the world. US President Donald Trump (left) and Prime Minister Sir Keir Starmer speaking to the media at the G7 summit in Kananaskis, Alberta, Canada (Stefan Rousseau/PA) The Prime Minister and US president finalised the deal for those sectors at the G7 summit, but levies on steel have been left standing at 25% rather than falling to zero as originally agreed. Talks are ongoing to secure 0% tariffs on core steel products from the UK. The executive order signed by Mr Trump suggests the US wants assurances on the supply chains for UK steel intended for export, as well as on the 'nature of ownership' of production facilities. Sir Keir said: 'Our historic trade deal with the United States delivers for British businesses and protects UK jobs. 'From today, our world-class automotive and aerospace industries will see tariffs slashed, safeguarding key industries that are vital to our economy. 'We will always act in the national interest – backing British businesses and workers, delivering on our Plan for Change.' Business and Trade Secretary Jonathan Reynolds said the deal would save hundreds of millions each year and safeguard thousands of jobs. 'We agreed this deal with the US to protect jobs and support growth in some of our most vital sectors – and today, we're delivering on that promise for the UK's world-class automotive and aerospace industries.' Kevin Craven, head of aerospace trade association ADS, said the sector 'hugely appreciated' the efforts to reach a deal. Society of Motor Manufacturers and Traders chief executive Mike Hawes said the agreement was 'good news for US customers and a huge relief for the UK automotive companies that export to this critically important market'. The Government is also due to update Parliament on Monday on ethanol and quotas on US beef. Under the deal, it was agreed that a 20% tariff on US beef imports to the UK be removed and the quota for US beef raised to 13,000 metric tonnes. The Vivergo Fuels site near Hull (Vivergo Fuels/PA) A 19% tariff on ethanol imports from the US is also due to be removed, with a tariff-free quota of 1.4 billion litres of US ethanol applied. The bioethanol industry says the deal has made it impossible to compete with heavily subsidised American products. The UK's largest bioethanol plant warned last week that it could be weeks from stopping production. Hull-based Vivergo Fuels said the start of talks with the Government was a 'positive signal' but that it was simultaneously beginning consultation with staff to wind down the plant.
South Wales Guardian
6 days ago
- Business
- South Wales Guardian
Under-threat bioethanol plant says talks with Government a ‘positive signal'
Hull-based Vivergo Fuels said on Thursday that, given 'the strategic importance of a domestic ethanol supply', the Government has committed to formal negotiations to reach a 'sustainable solution'. But the firm, which is owned by Associated British Foods (ABF), said it is simultaneously beginning consultation with staff to wind down the plant, which employs more than 160 people, due to the uncertain situation – a process which could see production stop before September 13, if support is not provided. An ABF spokesperson said: 'We are extremely pleased to be entering the next phase of formal negotiations with Government over the future of Vivergo. 'We believe it is a very positive signal that Government recognises the strategic importance of a domestic bioethanol industry, and is serious about working with the sector to find a sustainable long-term future. 'We look forward to engaging intensively and constructively with ministers over the coming weeks.' The statement added: 'ABF cannot continue to absorb losses at the plant. That is why a timely solution is vital. 'Our clear preference is to find that solution through this process and to get back to running a business that can thrive in the long term.' The firm said that 'in parallel' it has entered into a consultation process with staff, which it said was a necessary step as there is no guarantee that the negotiations with Government will be successful. It said: 'Our employees are our most important consideration, and we will engage with them properly and transparently about the future. 'Consultation is not a fixed outcome, and closure is not a certainty. 'The outcome depends on the progress we are able to make through negotiations with the Government.' Last month, Vivergo wrote to the wheat farmers who supply it, telling them it will have to close unless there is quick Government intervention. It said the removal of a 19% tariff on US ethanol imports, which formed part of the recent UK-US trade deal, was the 'final blow'. The bioethanol industry says the deal has made it impossible to compete with heavily subsidised American products. Vivergo said the Hull plant can produce up to 420 million litres of bioethanol from wheat sourced from thousands of UK farms. It described bioethanol production as 'a key national strategic asset' which helps reduce emissions from petrol and is expected to be a key component in sustainable aircraft fuel in the future. The firm said it has just signed a £1.25 billion memorandum of understanding with Meld Energy to anchor a 'world-class' Sustainable Aviation Fuel facility at the site. It said the 'potential ahead is enormous', adding that 'there is a real opportunity for Hull to be home to one of Britain's most exciting clean fuel clusters'. The plant is also the UK's largest single production site for animal feed and the company says it indirectly supports about 4,000 jobs in the Humber and Lincolnshire region. Following ABF's announcement of a potential shutdown by mid-September, a Government spokesperson said on Thursday: 'We recognise this is a concerning time for workers and their families and it is disappointing to see this announcement after we entered into negotiations with the company on financial support yesterday. 'We will continue to take proactive steps to address the long-standing challenges the company faces and remain committed to working closely with them throughout this period to present a plan for a way forward that protects supply chains, jobs and livelihoods.' The Government said the bioethanol industry has been facing significant challenges for some time and officials and ministers have met with Ensus and Vivergo consistently over the last few months to address the challenges. It said both the business and transport secretaries met representatives from the industry on June 10 and engagement with the companies 'will continue at pace' to assess potential solutions, with the help of external consultants.
