UK and US Finalize Trade Deal Reducing Key Tariffs
Agreement lowers tariffs on UK cars and steel exports to the US
The United Kingdom and the United States have finalized a bilateral trade agreement that reduces tariffs on key UK exports.
Under the deal, tariffs on British car exports to the US will decrease from 27.5% to 10% for the first 100,000 vehicles annually, while tariffs on UK steel and aluminum exports will be eliminated.
In return, the UK will expand access for US agricultural products, including beef and ethanol.
The agreement, signed during the G7 Summit in Canada, aims to strengthen economic ties between the two nations amid ongoing global trade tensions.
Under the deal, tariffs on British car exports to the US will decrease from 27.5% to 10% for the first 100,000 vehicles annually, while tariffs on UK steel and aluminum exports will be eliminated.
In return, the UK will expand access for US agricultural products, including beef and ethanol.
The agreement, signed during the G7 Summit in Canada, aims to strengthen economic ties between the two nations amid ongoing global trade tensions.
