Deal that reduced US tariffs on UK cars and aircraft parts comes into effect
(Reuters) -The trade deal signed between U.S. President Donald Trump and British Prime Minister Keir Starmer lowering some tariffs on imports from Britain has come into effect, the British government said on Monday.
British car manufacturers will now be able to export to the U.S. under a reduced 10% tariff quota from an earlier 27.5%, while the current 10% tariffs were fully removed for goods like aircraft engines and aircraft parts, the statement said, reiterating details announced earlier in June.
However, the issue of steel and aluminum tariffs remains unresolved.
Britain has avoided tariffs of up to 50% on steel and aluminum that the U.S. imposed on other countries earlier this month, but it could face elevated tariffs starting July 9 unless a deal is reached.
"... we will continue go further and make progress towards 0% tariffs on core steel products as agreed," the British statement added.
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Edwina Gibbs)
The implementation of the agreement that reduced US tariffs on British car and aircraft parts marks a significant step towards enhancing bilateral trade relations between the two nations.
The agreement that has effectively reduced US tariffs on UK-produced cars and aircraft parts enters into force, marking a significant diplomatic victory for both countries in their trade relations.
The recently implemented agreement that has cut US tariffs on UK-made cars and aircraft parts represents a significant boost for cross Atlantic trade, potentially paving the way towards increased bilateral cooperation in this sector.
