Mon, 30 Jun 2025

Mon, 30 Jun 2025 UK-US tariff deal begins but still no news on steel

The deal will give the UK motor industry preferential treatment and cut aerospace tariffs to zero.

* A deal between the US and UK on import tariffs has come into force, giving British car makers preferential access to the US market.
* The agreement allows UK motor manufacturers to sell up to 100,000 vehicles to the US at a 10% tariff, down from 27.5%.
* Tariffs on UK aerospace exports have been cut to zero.
* In return, the UK will scrap tariffs on beef and US ethanol imports.
* However, UK steel and aluminium remain subject to a 25% tariff, which could double to 50% if a deal is not reached by July 9th.
* The agreement will save sectors "hundreds of millions each year" and safeguard "thousands of jobs", according to the Business and Trade Secretary.
* However, some UK industries are concerned about the impact of the agreement, including the bioethanol industry which says it makes it impossible for them to compete with heavily subsidised US products.
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