Overview
- The U.S. will maintain a 10% baseline tariff on British imports but eliminate duties on steel and aluminium and reduce auto tariffs to 10% for the first 100,000 vehicles annually.
- Britain agreed to lower its average tariffs from 5.1% to 1.8% and ease market access for U.S. goods, including beef, ethanol, and aerospace products.
- President Trump and Prime Minister Starmer described the framework as a step toward a broader trade agreement, with additional negotiations planned in the coming weeks.
- The U.K. is continuing discussions with the U.S. to address proposed 100% tariffs on films, aiming to safeguard its creative industries.
- This is the first trade agreement announced by the U.S. since the introduction of sweeping global tariffs in April, marking a recalibration of bilateral trade relations.