LONDON (dpa-AFX) - The UK-US trade deal has come into force Monday, slashing US import tariffs for the UK's automotive and aerospace sectors.
UK car manufacturers can now export to the United States up to 100,000 vehicles under a reduced 10 percent tariff quota.
The UK aerospace sector also gains a major boost, with 10 percent tariffs on goods like engines and aircraft parts removed, and a commitment to maintain them at 0 percent.
In return, as part of its commitment under a deal that was signed at the G7 summit earlier this month between Prime Minister Keir Starmer and President Donald Trump, the UK will scrap tariffs on imported American beef and ethanol.
The UK is the only country to have secured such a deal with the US, reducing car export tariffs from 27.5 percent to 10 percent, saving manufacturers hundreds of millions each year and protecting thousands of jobs.
Also, the UK is the only country that the Trump administration exempted from the global tariff of 50 percent on steel and aluminum. Trump and Starmer had agreed to make progress towards eliminating tariffs on core steel products.
The US-UK trade deal provides American companies unprecedented access to British markets. It includes billions of dollars of increased market access for American exports, especially for beef, ethanol, and certain other American agricultural exports.
In addition, the United Kingdom will reduce or eliminate numerous non-tariff barriers that unfairly discriminate against American products and hurt the United States' manufacturing base.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
