Did Trump cancel the tariffs for good?

David Lammy says UK and EU pressure led President Trump to drop a 10% tariff plan that included the UK. No new duties are in place now, but US trade policy can change fast. Investors should watch for any formal notices or actions before assuming the risk has fully gone.

Which UK sectors benefit most from the de-escalation?

Exporters with big US sales get near-term relief. Aerospace, autos, chemicals, machinery, luxury goods, and food and drink avoid immediate cost shocks. Stable sterling helps pricing. We will track order intake and backlog comments from management teams to confirm whether US demand and margins improve this quarter.

What could bring the tariff risk back?

A revived 10% tariff threat, new investigations, or a breakdown in talks could reintroduce costs. Watch for White House proclamations, USTR moves, and UK or EU responses. Company updates and import data can also signal stress. Stay flexible and set triggers to adjust exposure if policy signals turn negative.

How might Arctic security policy affect UK companies?

Policy changes could alter shipping routes, compliance costs, and insurance terms. Defence suppliers may see interest in maritime awareness and cold-weather capability. Timelines are likely gradual and flagged in advance. Investors should review disclosures on route planning, insurance cover, and contingency plans for operations in or near the High North.

Law and Government

January 25: Lammy Says UK Pressure Made Trump Drop 10% Tariff Threat

ByDanny Kontos January 25, 2026January 25, 2026

David Lammy says UK and EU pressure pushed President Trump to drop a 10% tariff threat against eight countries, including the UK, and to back away from threats to use force in Greenland. The Prime Minister’s 24 January call with Trump also put Arctic security high on the agenda. For UK investors, this lowers immediate tariff risk for transatlantic trade and raises focus on policy around Arctic routes, defence, and shipping. We outline the facts, what is known, and the key market angles to monitor next.