Reuters. The U.S. has agreed that the UK will get preferential treatment in any further tariffs imposed as part of 232 investigations, the British government said.
Work will continue on remaining sectors such as pharmaceuticals and other reciprocal tariffs.
"I'm thrilled to announce that we have reached a breakthrough trade deal with the United Kingdom. Incredible country," U.S President Donald Trump said. He said final details would be set out in the coming weeks, but the deal would: reduce non-tariff barriers, fast track U.S. goods through UK customs, Include chemicals, machinery.
Here's what the British government, according to Reuters, has said so far in a statement:
Car export tariffs will reduce from 27.5% to 10%. This will apply to a quota of 100,000 UK cars, almost the total the UK exported last year.
The UK steel industry will no longer face tariffs. They have gone from 25% tariff down to zero.
Both sides have agreed new reciprocal market access on beef – with UK farmers given a tariff free quota for 13,000 metric tonnes. There will be no weakening of UK food standards on imports.
The UK will remove the tariff on ethanol – which is used to produce beer - coming into the UK from the US, down to zero.
Work will continue on the remaining sectors - such as pharmaceuticals and remaining reciprocal tariffs.
The U.S. has agreed that the UK will get preferential treatment in any further tariffs imposed as part of Section 232 investigations.
The UK Digital Services Tax remains unchanged. The two nations have agreed to work on a digital trade deal that will strip back paperwork for British firms trying to export to the U.S.
