US Cuts Tariffs on UK Cars and PlanesโBut Steel Industry Left Behind
Tariff reductions for UK automotive and aerospace sectors have taken effect following Prime Minister Sir Keir Starmer's completion of negotiations for relief from US import duties. UK car manufacturers exporting to America now face a reduced 10% tariff quota, down from the previous 27.5%, while aerospace companies will see a 10% levy eliminated completely. Sir Keir described the agreement as a "historic trade deal" with the US, secured after President Donald Trump implemented import taxes as part of his "liberation day" tariffs affecting countries globally. The Prime Minister and US President finalized the sectoral agreement during the G7 summit, though steel tariffs remain at 25% instead of being reduced to zero as initially negotiated. Discussions continue regarding securing 0% tariffs on core UK steel products destined for US markets. Trump's executive order indicates the US seeks guarantees regarding UK steel […]