The UK tech and investment industry has applauded the recently announced trade deal made between Britain and the US as a “win for startups” and a positive sign of growth.
Last week, Prime Minister Keir Starmer and President Donald Trump announced a highly anticipated trade agreement that reduced previously instated tariffs on a number of key products including cars, steel and aluminium.
The deal was a major win for the UK’s auto industry, responsible for the country’s largest exported product to the US, but the celebrations are not limited to the likes of Jaguar Land Rover.
“The UK-US trade deal is a win for UK startups,” said Fuel Ventures founder Mark Pearson.
“It’s not just about smoother trade, it’s about opening the door to an exciting market. The US is massive, and now UK businesses have a clearer path to get in and make a name for themselves.”
The US and the UK are home to two of the world’s three largest tech industries, with China in between them.
Collaboration between the industries of Britain and the US has historically been strong, but the erratic protectionist policies of the Trump administration sparked fears over future economic relations.
For Pearson, an agreement in place means “fewer hoops to jump through” for startups looking to expand into America and “easier access to new customers and potential partners” on both sides.
“The US market is ripe for the taking,” added Pearson. “It’s time to get bold, think big, and show the US what we have got.”
The deal provides a particularly “positive signal” for the fintech sector, according to Scarlett Sieber, chief strategy and growth officer at Money20/20.
Sieber pointed out that “cross-border collaborations” are “critical” for the sector, though there remain questions over “digital and regulatory alignment”.
Dexory chief executive Andrei Danescu also welcomed the news as a “step forward for transatlantic trade”, however, he warned that fragile supply chains responsible for the movement of engineered goods between the countries will need to be prepared for the change.
“Even positive shifts in trade policy can create ripple effects across supply chains,” Danescu said.
“For leaders in logistics and operations, this is yet another reminder that resilience and agility isn’t optional.”
The trade agreement with the US followed a landmark agreement between the UK and India that similarly welcomed positive reactions from the tech community.
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