Latest news with #VivergoFuels
Bloomberg
6 days ago
- Business
- Bloomberg
UK Hydrogen Firm Warns of Spillover From Ethanol Plant Closures
Nascent green energy companies that are needed to decarbonize the UK warned they would be hurt by the closure of the country's ethanol industry. British ethanol makers are facing imminent shutdown due to competition from a wave of cheap product unleashed by a deal with the US that lifted tariffs. It's 'critical' that the Vivergo Fuels plant remains open to support the wider development of sustainable fuels in northeast England, said Richard Clark, development director at Meld Energy.
Bloomberg
16-07-2025
- Business
- Bloomberg
UK Ethanol Industry's Imminent Demise May Hit Meat, Beer and More
A 1.4 billion-liter tide of cheap US biofuels threatens to wipe out both of the UK's domestic ethanol producers, and could also disrupt a range of British industries from meat packing to making beer. The Vivergo Fuels and Ensus plants in the north of England face imminent closure after a trade deal with Washington removed tariffs on imports of American ethanol.
The National
30-06-2025
- Automotive
- The National
UK-US trade deal kicks into gear with tariffs slashed for UK car and aerospace sectors
A trade deal that reduces tariffs on British exports of cars and aerospace equipment to the US has come into force as the two sides continue to negotiate over steel duties. London and Washington reached an agreement in May to cut US tariffs on cars from 27.5 per cent to 10 per cent, with a limit of 100,000 vehicles a year. It also fully eliminated a 10 per cent tariff on goods such as engines and aircraft parts. The deal was clinched after US President Donald Trump imposed import taxes as part of his 'liberation day' tariffs on countries across the world. 'From today, British car and aerospace manufacturers will benefit from major tariff reductions when exporting to the US, saving thousands of jobs,' the UK Department of Trade said in a statement on Monday. Prime Minister Keir Starmer said the 'historic trade deal' 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.' In return, Britain agreed to further open its market to US ethanol and beef. The UK government is due to update Parliament on Monday on those sectors. 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. It has also raised concerns in the chemical industry and among British farmers, even though the meat would still have to meet UK food safety standards. Mr Starmer and Mr Trumo finalised the deal for those sectors at the G7 summit, but levies on steel have been left at 25 per cent rather than falling to zero as originally agreed. Talks are continuing to secure 0 per cent 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. 'We will continue go further and make progress towards zero per cent tariffs on core steel products,' the trade department said in the statement. Business and Trade Secretary Jonathan Reynolds said the deal would save hundreds of millions each year and safeguard thousands of jobs. 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'. This deal is one of several international agreements the UK has secured recently, including a trade deal with India and a renewed EU deal. Negotiations are also continuing for a GCC-UK trade deal. The two sides are 'hard at work' on bringing the deal into place Britain's chief negotiator, Tom Wintle, said last week.
Glasgow Times
30-06-2025
- 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
30-06-2025
- 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.
