US President Donald Trump has signed an agreement that officially cancels part of the tariffs on imports from Great Britain. The deal was announced during Trump’s meeting with British Prime Minister Keir Starmer on the sidelines of the G7 summit in Canada. informs Reuters.
The document provides for the preservation of quotas and tariffs for British cars, as well as the abolition of tariffs for the aerospace sector of Great Britain. At the same time, the issue of steel and aluminum imports remains unresolved. Keir Starmer called the deal “a very good day for both countries, a real show of strength.”
The US plans to introduce quotas on imports of steel and aluminum from Great Britain, which will not be subject to a 25% tariff. The duty exemption will apply subject to compliance with security requirements for supply chains and production facilities. The level of quotas will be determined by US Commerce Secretary Howard Latnick.
Without reaching this agreement, Britain could face an increase in tariffs of up to 50% as early as July 9. Leaders also confirmed an earlier agreement on a quota of 100,000 British cars that could be exported to the US at a reduced 10% duty (instead of the standard 25%). This rule will take effect seven days after publication in the Federal Register.
According to the decree, tariffs on parts and aircraft from Great Britain are also completely abolished. Britain has become the first country to agree on tariff cuts with the Trump administration.
“It usually takes months to implement trade deals, but we’re implementing the first batch of deals in just a few weeks. And we’re not stopping there.” – said Jonathan Reynolds, Minister of Trade of Great Britain.
He added that the parties had agreed on mutual access to 13,000 metric tons of beef, with US imports subject to strict UK food safety standards. Reynolds noted that negotiations are ongoing — in particular, on preferential terms for the pharmaceutical sector and protection of British industry from possible new tariffs.
