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4w ago

UK and US Seal Post-Tariff Trade Deal at G7 Summit

Reduced duties on British steel and cars to 10 percent create a pathway to UK parliamentary ratification

British Prime Minister Keir Starmer and U.S. President Donald Trump shake hands during a joint press conference in the East Room at the White House, February 27, 2025 in Washington, D.C., U.S. Carl Court/Pool via REUTERS/File Photo
U.S. President Donald Trump and British Prime Minister Keir Starmer hold a signed Trade Agreement during a meeting, at the G7 summit, in Kananaskis, Alberta, Canada, June 16, 2025. REUTERS/Suzanne Plunkett/Pool/File Photo
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President Donald Trump and British Prime Minister Keir Starmer walk together after singing a trade deal as they leave a bilateral meeting during the G7 Leaders' Summit on June 16, 2025 in Kananaskis, Alberta.

Overview

  • President Trump publicly declared the agreement “done” at a G7 summit press briefing in Canada following a virtual agreement with Prime Minister Keir Starmer last month.
  • The deal cuts US tariffs on UK steel exports from 25 percent to 10 percent, with provisions for possible full elimination.
  • It also lowers duties on British carmakers, including Jaguar Land Rover, from 25 percent to 10 percent.
  • The UK is the first country to finalize a post-tariff trade agreement with the US under President Trump’s second term.
  • UK ministers will table a written statement in Parliament to ratify and implement the accord.