Trump, Starmer implement UK-US trade deal at G7 summit
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The news: UK Prime Minister Keir Starmer and US President Donald Trump signed a previously announced trade agreement at the Group of Seven summit in Canada.
The context: The deal, announced last month, includes the US cutting tariffs on cars imported from the UK to 10% from 27.5% for the first 100,000 vehicles each year and dropping levies on steel to zero from 25%, in exchange for the UK increasing tariff-free quotas on US beef and ethanol.
What they said: Starmer and Trump said they had just signed the agreement, without providing details.
“We’ve just signed it and it’s done.... We have our trade agreement,” Trump said, as he congratulated Starmer.
Starmer said: “This now implements on car tariffs and aerospace, a really important agreement.”
According to numerous reports, the finer points are still being negotiated. Bloomberg noted that includes the final tariffs on UK steel, which could depend on the UK's ability to ease US concerns over the Chinese ownership of British Steel.
The source: Bloomberg
