Britain announced on Sunday it will boost its export finance support by £20 billion ($26 billion) to help businesses navigate mounting global trade challenges, including tariffs imposed by the United States. The expansion raises the lending capacity of UK Export Finance (UKEF) to £80 billion, with £10 billion earmarked for firms most affected by the US tariffs. The move comes as UK exporters face rising uncertainty following President Donald Trump's decision to impose tariffs of 25 per cent on steel, aluminium, and cars, and 10 per cent on most other imports from countries like the UK. Finance Minister Rachel Reeves said the decision reflects a new era in global trade and aims to provide stability and certainty to businesses. The package also includes loans of up to £2 million for small and medium-sized enterprises. Attribution: Reuters Subediting: M. S. Salama
