Overview

• Jonathan Reynolds has informed Parliament and laid statutory instruments to implement reciprocal cuts on US beef and ethanol
• He said he was “very hopeful” the tariff changes will take effect within days, potentially by week’s end
• The US must finalise quotas that will eliminate steel duties and reduce car levies to 10% under the May 8 agreement
• Negotiations over steel rules of origin continue to ensure all UK producers qualify for the zero-tariff regime
• Bioethanol firms warn of mounting competition under ethanol cuts as Associated British Foods weighs its plant’s future later this month