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Rolls-Royce owner Donald Trump just took a hammer to the U.K.’s $8 billion luxury car market

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The U.K.’s automobile sector, prized for its luxury manufacturers like Bentley and Aston Martin, is reeling after President Donald Trump moved forward with aggressive tariffs that threaten to bring the country’s lucrative export market to its knees.

The Trump administration slapped 25% import tariffs on cars and some car parts, including engines and powertrains, on Wednesday in a bid to repatriate manufacturing and convince foreign competitors to set up shop in the U.S.

It’s news that will send a shudder down the spines of the U.K.’s luxury manufacturers, who craft a handful of cars every year mostly intended for wealthy American buyers, including President Trump. 

The car market is the jewel in the crown of the U.K.’s manufacturing industry,  home to luxury carmaking giants including Bentley, Aston Martin, Rolls Royce, Lotus, McLaren, and Jaguar Land Rover all of which produce most of their cars in the country. Excluding JLR, their combined annual revenues exceed around £6.4 billion ($8.3 billion).

Four out of every five cars made in the U.K. are exported to other markets. Analysis from the Society of Motor Manufacturers and Traders (SMMT) found the entire autos market was the U.K.’s most valuable manufactured goods export in the 12 months to June last year, worth £46.8 billion ($60.5 billion).

The U.S. is by far the U.K.’s biggest single autos export market, receiving 17% of the country’s cars. Last year, the U.K. shipped £6.4 billion ($8.3 billion) worth of cars, with more in parts, to the U.S.

North America is also by far Jaguar Land Rover’s largest market. The region, which also includes Canada and Mexico, imported a combined 241,000 JLR vehicles in 2024. Shares in Tata Motors, which owns JLR, fell 5.5% in early trading.

In recent months, mass-market European automakers have outlined plans to circumvent Trump’s incoming tariffs. BMW has facilities in the U.S. prepared to pick up production demand for Americans. Stellantis has its fleet of U.S. brands, including Ram, Dodge, and Chrysler, that could offset falling demand in its European businesses. Volkswagen, which said it would be minimally affected by tariffs, has its large Tenessee plant to lean on for production.

There isn’t an obvious solution for the U.K.’s carmakers, however. Much of the appeal of its luxury cars, particularly to foreign buyers, lies in the legacy behind their production. Bentley, for example, has continuously made its cars at its Crewe plant since 1946. 

Because of their much lower production levels, any decline in the output of luxury carmakers can have an outsized impact on profit margins. 

Rolls-Royce, a carmaker that counts Trump as a customer, makes up just 0.02% of total cars sold by its parent, the BMW group. All Rolls-Royce cars are meticulously crafted at its Goodwood factory in Chichester. The company announced in January a £300 million investment in the factory to aid its expansion into customization. 

Aston Martin, meanwhile, shipped less than 2,000 vehicles to the Americas last year but made $630 million in revenue from the region. Shares in the carmaker fell more than 5% in early morning trading. 

The reality of the U.K.’s prestigious car market leaves it with few options other than passing costs onto its wealthy customers, hoping exclusivity will trump practicality. Bentley’s CEO, Frank-Steffen Walliser, said as much last week when he warned that added costs were likely to land on its wealthy buyers eventually. 

The panic was clear from SMMT chief executive Mike Hawes, who on Thursday urged the U.K and U.S. to come to the table to avoid tariffs that would cause pain on both sides of the Atlantic.

“Today’s announcement by President Trump is not surprising but, nevertheless, disappointing if, as seems likely, additional tariffs are to apply to U.K. made cars,” said Hawes.

“The UK and US auto industries have a long-standing and productive relationship, with US consumers enjoying vehicles built in Britain by some iconic brands, while thousands of UK motorists buy cars made in America.”

This story was originally featured on Fortune.com



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How bosses can handle the new unruly office after an increase in workplace incivility

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The alleged Deel spy just admitted to corporate espionage in a major scandal rocking the HR world

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A man accused of corporate espionage in a scandal rocking the world of HR has confessed to gathering intelligence on one company and passing along information to its rival, according to a new court filing. 

Keith O’Brien, who is accused of acting as a spy for HR software firm Deel, submitted an affidavit to an Irish court this week in which he says he was paid by Deel to disclose confidential information about its competitor Rippling, another HR software company. He says co-founder and CEO of Deel Alex Bouaziz directly suggested he keep his job at Rippling and work as an inside man.

“I recall him specifically mentioning James Bond,” O’Brien wrote. “I asked him what he meant. He said he would offer me a monetary award if I agreed to spy on Rippling for Deel.” 

Deel did not immediately respond to Fortune’s request for comment. Rippling did not immediately respond to Fortune’s request for comment. Rippling CEO Parker Conrad posted parts of the affidavit on X Tuesday, writing that Bouaziz “personally orchestrated his company’s alleged spy scheme, the spy said in a full confession

O’Brien writes that he was asked to provide Bouaziz with information regarding Rippling’s “ways of doing things” which he inferred to mean corporate strategy, customer insights and other confidential company information. O’Brien says he communicated with Bouaziz multiple times per day, and even on weekends. In November, he says he was awarded $6,000 for the insights he passed along, and continued to receive payments monthly in exchange for valuable information, according to the court filing. 

At one point, when Rippling began to suspect that something was wrong, O’Brien claims he was asked by Deel’s legal team to purchase a burner phone from Deel’s lawyers, destroy his old one with an axe, and shove it down his mother-in-law’s drain, according to the court affidavit. He further alleges that he was advised by lawyers for Deel that he should leave Ireland and fly with his family to Dubai, and that Deel would pay for his accommodations.

O’Brien says that in March, he agreed to meet with Rippling’s legal team for an interview, and wrote that he was fearful of his safety “given the power and wealth of the individuals involved.”

“I was getting sick of concealing this lie,” he wrote in the affidavit. “I realized that I was harming myself and my family to protect Deel.”

This story was originally featured on Fortune.com



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GameStop raises $1.5 billion for Bitcoin purchases after private offering

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