US and UK agrees to cut tariffs on Trump by cars and metals

The US has agreed to reduce import taxes on a specified number of British cars and allow several steel and aluminum to the country without tariffs within the new agreement between the US and the UK.

The announcement offers a relief for the UK key branches from some new tariffs that President Donald Trump announced after returning to the White House in January.

But this will leave 10% of the responsibilities for most goods from the UK.

Analysts said analysts said they had not changed the terms of trade between the countries when they made Trump this year, did not change the terms of trade between the countries because they stood before the changes made by Trump.

On Thursday, no official transaction was signed on Thursday, and both governments were easy in detail.

Speaking from the Jaguar Land Rover factory in Western Midland, Sir Kire St. Stermer described the agreement as a “fantastic platform”.

“This historic transaction provides British business, and British workers who protect thousands of British jobs in key sectors, including car production and steel,” he said, adding that “the UK has no greater ally than the US.”

In the White House, Trump called it “great” and pushed away from criticism that it exceeds its value.

“This is a transaction we’re going to do more,” he said.

Both sides said the US agreed to reduce the car import tax – which Trump collected 25% last month – up to 10% for 100,000 cars a year.

This will help luxury manufacturers such as Jaguar Land Rover and Rolls Royce, but can limit growth in the coming years as this makes up about what the UK exported last year.

Business Secretary Jonathan Reynolds said the BBC that the UK was a few days from the loss of thousands of jobs in the manufacturers facing tariffs in the US.

“It was very serious,” he said. “It would mean that people would lose work without this breakthrough.”

According to the Prime Minister’s office, the tariffs for steel and aluminum, which Trump has grown to 25%earlier, also decreased. The United States said it would set the quota instead.

Both countries also agreed to allow imports of up to 13,000 metric tons of beef from another country without tariffs, reports Documents published by the US trade representative.

The US said the changes would significantly expand the sale of beef to the UK, which previously faced 20% of duties and were limited by 1000 metric tons.

Overall, the United States has said the transaction is to create $ 5 billion (£ 3.8 billion) for export, including $ 700 million in ethanol and $ 250 million in other agricultural products.

“It is impossible to conclude how important this deal is,” said US Agriculture Minister Brooke Rolin.

The CEO of the UK Gareth Steis welcomed the agreement, saying that he offers “the main relief” of the steel sector.

“The cool approach and perseverance of the UK government has clearly paid off in the negotiations with the United States,” he said.

Other business groups have expressed more uncertainty.

“It’s better than yesterday, but it is definitely no better than five weeks ago,” said Duncan Edwards, CEO of Britishamerican Business, which represents firms in two countries and supports free trade.

“I’m trying to get excited, but I’m a little fighting.”

While the deputies in the work highly appreciated the deal, opposition parties asked for more detail and close attention in the parliament.

The leader of the conservative party Kemi Badenok criticized this deal, saying it had been reduced by tariffs in the UK, and on a campaign in the United States.

“This is not a historical deal with the US,” she said. “We were tightened.”

The Liberal Democrats demanded voting for the parliamentary agreement, saying it would be “complete disrespect for the public” if the deputies were denied words.

Sir Ed Davi said: “When it comes to any trading deal – and especially with someone unreliable as Donald Trump – the devil will be in detail.

“One thing it is clear that Trump’s trade tariffs still fall into key British industries, threatening the livelihoods of people throughout the UK.”

UK leader Nigel Parazh said the transaction was “a step in the right direction.”

He told the BBC that it was in more detail, but in the round it was a desired development.

“An important point is that we are doing things, we take a step,” he said. “This is the advantage of Brexit we were able to do.”

The United States and the UK are discussing a trade transaction from Trump’s first term. At the time, they approached the mini-performance.

But the US has long been pushing for changes to benefit its farmers and pharmaceutical issues that were political in the UK.

It is not clear how these problems have advanced.

The National Beef Association said the agreement has in principle reached a “huge victory” for the American ranchers, but the US Export Federation, which monitors trade barriers for farmers in the United States, said it was still trying to record information.

The UK said there would be no weakening in food standards for imports.

While the UK appears to have made some obligations, “the devil will be in detail,” said Michael Pierce, the deputy chief economist in the Oxford economy, which stated that the announcement did not make changes to its economic forecasts.

Other problems are standing.

Trump has repeatedly stated that he wants to be taxed on the import of pharmaceuticals, trying to ensure that the United States has a strong production base for critical medicines.

The UK said the US agreed to give British firms “preferential treatment”.

But Evan Townsend, the Arnold & Porter lawyer, who works with the healthcare firms said that the industry “remained waiting to find out what the advantage would mean.”