Donald Trump, the US chairman, confirmed on Thursday a trade agreement with the UK that lowers tariffs on cars and metals while maintaining the current foundation 10 % price. The news came after Keir Starmer, the prime minister of the UK, received a telephone call. For a limit of 100 000 cars, US tariffs on British vehicles will be reduced from 27.5 % to 10 % under the plan. Steel and aluminum will no longer have levies. In exchange, the UK may improve consumer purchases of American agricultural products, reduce import taxes on about 2,500 items, including wine, sports equipment, and olive oil. The Democratic president made the point that other nations that are negotiating trade agreements with the US might have to pay higher buy taxes.
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Trump argued that countries with which the US has trade deficits and which he claimed treated the US unfairly would be subject to higher levies when he referred to the UK’s 10 % tax rate. US shares rose on Thursday as investors were more confident in the outcome of the trade agreement that had ease worries about the economy by lowering some tariffs and restrictions. Keir Starmer and Donald Trump previously spoke at a continuous press conference in London and Washington, where they both spoke via video link from the White House, and called the US-UK trade agreement” a truly amazing and historic day.”
