President Donald Trump has signed an executive order enacting a partial trade agreement with the United Kingdom, reducing tariffs on U.K. aerospace products and cutting auto import duties from 27.5% to 10% on up to 100,000 vehicles annually.
The deal marks a shift from earlier U.S. tariff hikes and includes reciprocal access to beef and ethanol markets. Trump called the agreement “fair for both,”
However, the deal stops short of a full free-trade agreement and leaves key issues unresolved, for example the 25% tariff on U.K. steel, which could double by July 9 without further action. The White House suggested steel quotas may be offered if British suppliers meet security standards.
Photo Credit: NPR
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