Trump lowered some duties for Britain, but not on steel imports-BBC
US President Donald Trump has signed an agreement that removes some trade barriers between the UK and the US, but has not lifted duties on steel imports.
The BBC writes about this.
"This step will make it possible to put into effect parts of the agreement agreed between the two countries last month and reduce tariffs on British cars supplied to the United States," the publication says.
This happened after several weeks of negotiations on the implementation of parts of the agreement, which, as the British government hopes, will protect British businesses from the impact of tariffs imposed by Trump.
"But the agreement provides for a 10% duty on most British goods, including cars, and does not provide for the expected abolition of duties on steel imports," the BBC notes.
The deal, originally agreed last month, is the first announced by the White House after it imposed sweeping tariffs on various goods imported into America earlier this year.
"Trump raised taxes on goods imported into the United States in a series of hasty statements in an attempt to encourage businesses and consumers to buy more American-made goods. This has caused financial turmoil and alarm around the world, including in the UK, where car manufacturers and steelmakers rely on the United States as a key export destination," the BBC recalls.
In a decree signed by Trump on Monday, the United States said it would allow up to 100,000 cars to be imported into the United States at a tariff of 10% instead of the 25% import duty imposed on all car imports earlier this year, as agreed in May.
However, the decree says that the United States will introduce a similar system for steel and aluminum, but it does not specify which one it will be. Trump promised to provide this information in the near future.
The US tax on steel and aluminum imports to the UK is currently 25%. This month, Trump announced a doubling of steel tariffs to 50%, but the tax could rise if Britain fails to reach an agreement by July 9, the BBC notes.