🇺🇸🇬🇧🤝 U.S.-UK Tariff Deal Cuts Car, Steel, And Agriculture Levies, Boosts Trade Access 🔹 Summary: The U.S. and Britain struck a new trade deal cutting tariffs on cars, steel, plane parts, and agricultural goods, while keeping broader negotiations open for pharmaceuticals and digital trade. Key elements include reduced car tariffs, zero tariffs on British steel, new quotas for beef and ethanol, and a major $10 billion Boeing aircraft order from a British airline. 🔹 Key Points: • U.S. car tariffs on British exports drop from 27.5% to 10%, with a quota of 100,000 cars annually. • British steel exports to the U.S. will now face zero tariffs, down from 25%. • British firms can export plane parts tariff-free; in return, a UK airline will purchase $10B worth of Boeing aircraft. • Both countries gain reciprocal tariff-free quotas on beef and U.S. ethanol; the UK digital services tax remains unchanged. • Further talks will address pharmaceuticals, film tariffs, and preferential UK treatment under U.S. national security trade measures. Tickers Of Interest: $USD $GBP $BA $X $TSLA $F $GM $SPX $FTSE $XLI $XME $ZC $ZS $ZB
⚠️ Factbox-What's in the US-UK economic deal? - Reuters on Full Story →
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