The agreement includes lowering some tariffs and reorganizing export quotas. But tariffs on steel and aluminum imports are yet to be agreed.
Trump called the deal “fair to both sides” and stated that it would “create a lot of jobs and income.” Starmer, on the other hand, called it “a great day for both countries” and “a real show of strength”.
Under the agreement, some new quotas on UK exports to the US will be introduced. No final decisions have yet been made on steel and aluminum, pending security assurances on the UK's steel supply chain. However, the White House announced plans to set a quota for steel and aluminum imports from the UK outside the 25% tariff, with the final level to be determined by Secretary of Commerce Howard Lutnick.
An important concession was made for British car manufacturers. Exports of 100,000 vehicles a year to the US will be subject to a 10% tariff instead of 25%. In addition, tariffs on aircraft and aircraft components imported from the UK have been completely abolished.
The agreement brings mutual advantages. US agricultural products such as beef and ethanol have expanded access to the UK market. The White House stated that the plan will take effect seven days after its publication in the Federal Register.
Asked whether the deal protects the UK from future tariff threats, Trump replied, "The UK is very well protected. You know why? Because I love them. This is their ultimate protection,".
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