A see at what the US and UK have previously agreed on tradepublished at 09:49 British Summer Time
Image source, ReutersIn May, the UK and US struck a deal, which saw Trump reduce tariffs on some British goods entering the US.
Trump lowered a previously imposed tariff on UK cars and automotive parts, cut to 10% from 25% on a maximum of 100,000 cars. Any cars exported above the quota will be subject to a 27.5% tax.
Steel and aluminium tariffs were a major part of the original tariff deal, but the details have yet to be ironed out. Business Secretary Jonathan Reynolds notified the BBC this morning this will be a part of discussions today.
The pharmaceutical sector also is a large unknown, as work continues in the background.
There was no modify to the UK’s 2% digital services tax in the original deal, and this has been seen as a sticking point.
US beef exports to the UK had been subject to a 20% tariff within a quota of 1,000 metric tonnes. The UK has scrapped this tariff and raised the quota to 13,000 metric tonnes, according to a White Houtilize document.
In return, the UK has been given the same quota at a lower rate in line with other countries.
Trump’s blanket 10% tariff still remains on most UK items.
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