In a swift executive order following their announcement, President Trump announced a reduction in tariffs on British cars from 25 percent to 10 percent, alongside allowing a quota of British steel and aluminum to enter the U.S. market without duty. This move is anticipated to boost British manufacturers, especially within the aerospace sector, as the agreement also includes reduced tariffs on certain airplane parts.
During the announcement, President Trump commended Starmer for his exceptional negotiating skills, highlighting how he achieved what many had failed to accomplish over the past six years. Starmer, expressing gratitude for the agreement, remarked on its significance, calling it "really important."
Despite the momentous agreement, the details regarding the volume of steel that can enter the United States tariff-free are still being refined, with the Commerce Department set to establish a quota. Notably, earlier this month, Trump had escalated tariffs on all foreign steel products to 50 percent, sparking speculation around future tariff adjustments for British steel.
While anticipation grows, further specifications regarding the tariff-free entry of British steel will be unveiled in due course, keeping stakeholders eager for additional updates on U.S.-UK trade relations.
During the announcement, President Trump commended Starmer for his exceptional negotiating skills, highlighting how he achieved what many had failed to accomplish over the past six years. Starmer, expressing gratitude for the agreement, remarked on its significance, calling it "really important."
Despite the momentous agreement, the details regarding the volume of steel that can enter the United States tariff-free are still being refined, with the Commerce Department set to establish a quota. Notably, earlier this month, Trump had escalated tariffs on all foreign steel products to 50 percent, sparking speculation around future tariff adjustments for British steel.
While anticipation grows, further specifications regarding the tariff-free entry of British steel will be unveiled in due course, keeping stakeholders eager for additional updates on U.S.-UK trade relations.
