UK-US tariff deal begins but still no news on steel

Ammon

2 days ago

Ammon News - A deal to cut import tariffs between the US and UK has come into force, giving British car makers preferential access to the world's biggest consumer market.
It will allow UK motor manufacturers to sell up to 100,000 vehicles to the US at a tariff of 10% - a big advantage over international competitors - while tariffs on UK aerospace exports have been cut to zero
In return, the UK will scrap tariffs on US ethanol imports - a move which the British bioethanol industry says will make it impossible for it to compete.
However, UK steel and aluminium remain subject to a 25% tariff, which could double to 50% if the UK and US do not reach a deal by deadline day on 9 July.
The agreement, which was signed at the G7 summit earlier this month, cuts some of the sweeping tariffs imposed by US President Donald Trump that sent global markets into chaos in April.
UK Prime Minister Sir Kier Starmer called it a "historic deal" which would safeguard key industries vital to the British economy.
In a Fox News interview aired on Sunday, Trump said he was unlikely to extend the 9 July deadline he has imposed on countries to secure deals with the US to avoid the higher tariffs.
Under the US-UK agreement, UK carmakers can sell up to 100,000 cars a year to the US with a 10% tariff, down from 27.5%.