US cuts tariffs on UK goods, Cambridge unfazed
CAMBRIDGE: The United States (US) has reduced tariffs on British cars and steel, making headlines across the United Kingdom (UK) on Thursday (May 8).
According to the UK government's official website, GOV.UK, Washington slashed tariffs on UK car imports to 10 per cent from 27.5 per cent and eliminated tariffs on steel and aluminium, reducing them from 25 per cent to zero.
However, on the cobbled streets of Cambridge, the world's most renowned university town, life continues as usual, with no noticeable public reaction.
In fact, when US President Donald Trump made the 'Liberation Day' tariff announcement on April 2, consumers here seemed largely indifferent to the political impact of tariffs.
There were no 'Buy British' campaigns trending in town, nor any significant shift in consumer sentiment. This is despite a recent survey conducted by British universal bank Barclays Plc showing that, based on its consumer card spending data, 71 per cent of consumers plan to buy more 'Made in Britain' products in response to the trade tariffs.
As observed by Bernama around King's Parade, one of the busiest tourist streets in central Cambridge following Thursday's (May 8) tariffs announcement, American fast food chains remained crowded with people enjoying burgers and fried chicken, coffee continued to be sipped, and the Apple store was as busy as ever.
It seems that the impact of US tariffs has had little effect on the everyday lives of most Cambridge residents.
A quiet confidence in the bubble
Perhaps the reality in Cambridge is that its economy is not tied to the industries most affected by tariffs.
Rather than relying on exports like steel or dairy products, the university town thrives on knowledge, intellectual capital and research funding.
For most people here, the tariff dispute always felt distant or perhaps irrelevant.
Even with the reversal of automotive and steel tariffs, which brought cheers from engine-maker Rolls-Royce Holdings Plc and aerospace firm Melrose Industries Plc, and despite the Bank of England cutting interest rate by 25 basis points to 4.25 per cent to cushion the UK's economy against the impact of Trump's tariff policies, Cambridge remains unfazed.
At Thursday's close, Rolls-Royce rose 3.66 per cent to 794 pence (100 pence = RM5.68) a piece, while Melrose was 5.21 per cent higher at 470.70 pence a piece.
Muted consumer attitudes
Although the US maintained a hard stance during the Trump administration, British consumers never seemed to 'retaliate' against the tariffs imposed.
In Cambridge, American fast food chains remain as popular as ever, with visitors, students and professionals continuing to dine at these restaurants or shop at the stores of American tech giants without a second thought.
The easing of US tariffs on UK automotive, steel and aluminium may signal progress in trade relations, and the change will certainly be welcomed by the sectors directly affected, ranging from local businesses to major exporters.
For them, it represents an opportunity to expand market access in the world's largest economy.
However, this change will likely be absorbed quietly in Cambridge, the centuries-old university town by the River Cam.
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