LONDON - The British government has announced a temporary suspension of import tariffs on 89 types of goods to bolster domestic businesses and ease financial burden on consumers. The measure takes immediate effect and will remain in place until July 2027.

According to an official press release updated on Monday, the suspended tariffs apply to a wide array of items, ranging from everyday essentials such as pasta, fruit juices, spices, and coconut oil, to industrial materials like plywood and plastics used in construction and manufacturing. Seasonal goods such as agave syrup - popular among cocktail makers, and plant bulbs for gardening are also included.

The authority estimates that the tariff cuts will save British businesses at least 17 million pounds (about 22.42 million US dollars) annually. Officials said the savings could be passed down to consumers through lower retail prices especially ahead of the summer season.

"Free and open trade grows economies, lowers prices and helps businesses to sell to the world, which is why we're cutting tariffs on a range of products," said British Business and Trade Secretary Jonathan Reynolds. "From food to furniture, this will reduce the cost of everyday items for businesses, with savings hopefully passed onto consumers."

British Chancellor of the Exchequer Rachel Reeves also stressed the policy's potential to address cost-of-living concerns. "In a changing world, we know families are anxious about the cost of living, and businesses are uncertain about their future. That's why we've announced lower prices on imports of everyday essentials - helping businesses to thrive and pass on savings to customers," she said.

The announcement comes amid mounting external trade pressures, including recent tariff increases imposed by the United States on a variety of British exports. The US measures, which have affected sectors such as steel, automotive, and food products, have raised costs for exporters and strained transatlantic trade.

Industry groups warn that the American tariffs could further weigh on Britain's manufacturing sector, which is already grappling with high input costs and sluggish global demand. Against this backdrop, the British government's tariff suspensions are seen as a countermeasure to reinforce domestic competitiveness and economic resilience.