Overview

• The United States and the United Kingdom have signed a trade agreement lowering US tariffs on British cars from 27.5% to 10% and eliminating duties on UK steel and aluminum exports.
• The deal also includes reciprocal quotas for agricultural products, with 13,000 tonnes of British beef and increased US ethanol exports gaining duty-free access.
• The European Union has formally announced plans to file a WTO complaint against US tariffs, citing violations of international trade rules.
• In response to US tariffs, the EU is preparing up to €95 billion in counter-duties targeting American goods, including cars, planes, and agricultural products, if negotiations fail.
• US-China trade talks are scheduled for May 10–11 in Switzerland, aiming to address the 145% US tariffs on Chinese imports and China's 125% retaliatory surcharges.