US removes tariffs on some UK goods in a deal between the two
The post US removes tariffs on some UK goods in a deal between the two appeared on BitcoinEthereumNews.com.
The UK has secured a landmark trade deal with the US, marking a significant moment in post-Brexit trade and providing a lifeline to key British industries. The pact, hailed as a “historic day” by both UK Prime Minister Keir Starmer and US President Donald Trump, will slash tariffs on a range of exports, helping to preserve thousands of UK jobs in sectors such as automotive manufacturing, steel, and agriculture. The UK reportedly becomes the first country to strike a deal with the US after it imposed sweeping tariffs on imports into the US. The US and UK trade deal makes provision for several goods Announced days after a similar deal with India, this UK-US agreement represents a substantial shift in transatlantic trade relations. Under the terms of the deal, US tariffs on British car exports will drop from 27.5% to 10% for up to 100,000 vehicles annually—a figure that nearly matches total UK automotive exports to the US last year. Jaguar Land Rover, a key beneficiary, is expected to save hundreds of millions of pounds. “This deal secures greater certainty for our sector and the communities it supports,” said JLR CEO Adrian Mardell, who emphasized the vital role of the car industry in sustaining 250,000 UK jobs. Equally significant is the removal of a 25% tariff on UK steel exports, a move that comes just weeks after the British steel industry teetered on the edge of collapse. The agreement follows Prime Minister Starmer’s direct intervention to stabilize British Steel, ensuring operations in places like Scunthorpe continue and thousands of jobs are maintained. “This is jobs saved, jobs won, but not job done,” said Starmer. “My government is determined to go further and faster to strengthen the UK’s economy, putting more money in working people’s pockets as part of our Plan…
Filed under: News - @ May 8, 2025 8:29 pm