The car industry is just one sector set to be hit by the tariffs (Image: Getty)

       Donald Trump’s threat to slap 20% tariffs on goods entering the United States from the UK has caused panic across Westminster. It is estimated that Britain ships more than ￡60 billion worth of goods to the United States each year, meaning that the imposing of tariffs cannot fail to have a devastating impact on the UK economy.

       Last week’s spring statement, where Chancellor Rachel Reeves left herself the narrowest of fiscal headroom to cushion the economy from unexpected events could be wiped out in a broad stroke of the president’s Sharpie. The levy threatened by the White House would be applied in addition to charges already slapped on cars and steel, threatening a wide range of sectors. So which industries will be hit hardest?

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       The Chancellor said that negotiations with the US were ongoing following her Spring Statement (Image: Getty)

       Several aviation manufacturers have factories in the UK (Image: Getty)

       Cars

       Britain exports around ￡6.4 billion worth of cars to the United States which equates to approximately one in five cars sold. The introduction of levies is therefore bad news for British-based brands such as Jaguar Land Rover, Bentley and Rolls-Royce.

       Cars and the steel they are made from have already been the subject of tariffs but there is hope that customers of the high end brands will be able to absorb the increased price that is sure to be passed on.

       Andrew Goodwin, from Oxford Economics, said: “The sectoral impacts are potentially much more serious than the macroeconomic impact, the car sector being an obvious example that is relatively reliant on the US markets for demand.”

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       Aviation

       The British aerospace industry employs approximately 116,000 and turnover ￡80 billion a year.

       In 2023, sales to the US accounted for ￡2 billion with several large firms basing their manufacturing operations in the UK.

       The CEO of one such company, Airbus, says that it may look to prioritise non-US markets to offset the loss of revenue.

       Guillaume Faury said in February: “As part of our standard risk management, we continuously assess how to best allocate production and deliveries in response to changing market conditions.”

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       Britain exports several luxury car brands into the US (Image: Getty)

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       Food and drink

       Whisky, cheese and salmon are just some of the products that form part of an export industry worth ￡1 billion a year.

       Tariffs could force the price of such items so high that consumers are put off of purchasing.

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       A potential trade deal could offset the impact on the food and drink industry but in return, could fundamentally alter the way in which food is grown, processed and sold across the country.

       Pharmaceuticals

       The United States is the biggest export market for Pharmaceutical products, accounting for half of UK exports.

       In an industry worth an estimated ￡8.7 billion with supply chains fundamentally interwoven, the impact of a trade war could be catastrophic on both sides of the Atlantic.