Overview

• The UK-US trade agreement cuts tariffs on British car imports to the US from 27.5% to 10% and reduces steel and aluminium levies through quotas.
• The deal includes a new agricultural exchange granting US farmers access to UK markets without compromising UK food standards.
• Economist Joseph Stiglitz criticized the deal as narrow and unstable, suggesting the UK could have achieved better results by collaborating with the EU.
• Government ministers, including Home Secretary Yvette Cooper, expressed a desire to deepen trade relations with the US beyond the current framework.
• Critics, including Bank of England Governor Andrew Bailey, noted that overall tariffs on UK exports remain higher than at the start of the year.