US and UK say they’ve cemented a trade agreement that Trump calls fair for both nations
UNITED STATES, JUN 18 – The deal cuts tariffs on British cars and aerospace products but leaves steel tariffs at 25%, with ongoing negotiations to protect the UK steel industry, officials said.
- At the G7 summit held in the Canadian Rockies on Monday, the United States and the United Kingdom finalized a trade agreement aimed at lowering tariffs on British automotive and aerospace imports, with leaders from both countries confirming the deal.
- This deal builds on a framework agreed in May but leaves steel tariffs at 25%, with both leaders committing to ongoing discussions to address steel issues.
- The agreement includes commitments for the UK to meet US supply chain security requirements on steel and aluminum, while Network Rail confirmed British Steel as its main supplier under a £500 million contract.
- Trump stated the agreement would generate numerous jobs and income, while Starmer described it as an excellent outcome for both nations. The deal permits U.S. producers to send up to 29 million pounds of beef to the U.K. annually.
- The deal safeguards vital sectors but maintains uncertainty over steel tariffs, with efforts ongoing to reduce the 25% tariff and prevent potential tariff increases faced by other countries.
243 Articles
243 Articles
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