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U.S.-U.K. Economic Deal Lowers Some Tariffs
05/12/2025 - The U.S. and U.K. announced a deal to lower tariffs on some goods including British-exported steel, cars and plane parts, reported the Reuters news service.
While the 10% basic tariff rate will remain in place on goods imported to the U.S. from the U.K., Britain has agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to U.S. goods, Reuters reported.
“It opens up a tremendous market for us,” U.S. President Donald Trump said.
The British government said the deal will reduce tariffs on some British-made cars from 27.5% to 10%. British carmakers will be given a quota of 100,000 cars a year that can be sent to the U.S. at the lower tariff rate.
The 25% tariffs on British steel exports to the U.S. will be reduced to zero. British companies will also be able to export plane parts to the U.S. tariff-free with the expectation that a British airline will buy US$10 billion of Boeing airplanes, reported Reuters.
For more information, click here.
“It opens up a tremendous market for us,” U.S. President Donald Trump said.
The British government said the deal will reduce tariffs on some British-made cars from 27.5% to 10%. British carmakers will be given a quota of 100,000 cars a year that can be sent to the U.S. at the lower tariff rate.
The 25% tariffs on British steel exports to the U.S. will be reduced to zero. British companies will also be able to export plane parts to the U.S. tariff-free with the expectation that a British airline will buy US$10 billion of Boeing airplanes, reported Reuters.
For more information, click here.
