Donald Trump's trade war hits morale among Britain's car makers
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Confidence among British car manufacturers crashed this month due to Donald Trump's trade war threats.
The US President plans to impose duties of 25 per cent on car imports from this Wednesday – sparking concerns among vehicle makers.
According to the Lloyds Bank business barometer – a survey of morale – confidence among manufacturers has fallen more than in any other sector.
Cars are the UK's biggest export to the US and Britain sent 101,000 vehicles across the Atlantic last year, worth £9billion.
Ineos Automotive, founded by British billionaire Jim Ratcliffe, has called the tariffs a 'significant threat'.
The slump in confidence comes just days after Vauxhall closed its van plant in Luton. Parent company Stellantis said it will now transfer 'machinery and process knowledge' to its plant in Ellesmere Port, Cheshire.
It announced the closure of its Luton factory last November, putting 1,100 jobs at risk.
The company said the decision was made within the context of the Government's 'stringent' zero-emission vehicle targets.
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