US Cuts Tariffs on UK Autos, Steel, Aluminum in Planned Trade Deal
TEHRAN (Tasnim) – US President Donald Trump agreed on Thursday to cut tariffs on UK autos, steel and aluminum in a planned trade deal but played down the possibility of other nations getting similarly favorable terms on his import taxes, which are roiling the global economy.
Under the framework agreement, the United Kingdom is to buy more American beef and ethanol and streamline its customs process for goods from the United States. But Trump’s baseline 10% tariffs against British goods are to stay in place, and the Republican president suggested that even higher import taxes would be charged on other countries trying to reach deals with the US, the AP reported.
“That’s a low number,” Trump said of the UK's 10% tariff rate, adding that other countries would face higher tariff rates in their deals because the US runs trade deficits with them and “in many cases they didn’t treat us right.”
The announcement provided a political victory for UK Prime Minister Keir Starmer and offered a degree of validation for Trump’s claims that his turbulent approach on trade may be able to rebalance the global economy on his preferred terms.
UK officials said Trump’s auto tariffs would go from 27.5% to 10% on a quota of 100,000 vehicles and the import taxes on steel and aluminum would go from 25% to zero. Starmer said Britain would preserve its health and safety standards on food products.
