UK-US tariff deal begins but still no news on steel

In order to reduce import tariffs between the US and the UK, an agreement entered into force, providing British automobile manufacturers to the world’s largest consumer market.

The UK will allow engine manufacturers to sell 100,000 vehicles per 10% tariff – a great advantage over international competitors – Tariffs in the UK Aviation exports fell to zero.

In contrast, the UK will scrape tariffs In the import of beef and US ethanol – a movement in which the British bioethanol industry will make it impossible to compete.

However, the UK and the aluminum are exposed to 25% tariff, which may increase to 50% if the UK and the United States do not reach an agreement until the last day on July 9th.

The agreement signed at the G7 Summit at the beginning of this month cuts some of the comprehensive tariffs that send chaos to chaos in April.

British Prime Minister Sir Kier Starmer called it a “historical agreement” that will protect the key industries that are vital for the British economy.

In accordance with the US-UK agreement, British car manufacturers can sell 100,000 cars to the US annually with a 10% tariff from 27.5%.

Tariffs in the Aviation sectors will also be removed.

Business and Trade Secretary Jonathan Reynolds said that the sectors of the reducing tariffs will protect “hundreds of millions” and “thousands of jobs every year.

However, details about steel and aluminum tariffs have not yet been concluded. If they do not reach an agreement with England and the US, they will remain subject to a 25% tariff.

Liam Bates is the General Manager of the UK in Sheffield -based Marcegaglia, which makes stainless steel long products such as rods and rods.

The BBC’s program today, a lack of agreement on steel tariffs, “both annoying and very uncertainty,” he said.

The first 25% increase in steel import tariffs and “trade is much more difficult” with the US.

However, if the real “Kicker” could not reach an agreement until July 9, he said that the tariffs will double to 50%and that he would give his company a “big headache”.

Marcegaglia produces steel in the US, but the materials are provided by the Sheffield factory.

Bates, “Delivery times to get to the plant is longer than the remaining nine days for negotiations.” He said.

“So that means I’m going to send something – and a ship will probably be about £ 3 million – £ 4 million – and I don’t know, am I going to pay him £ 1.5 million or zero?

“So it makes us a very difficult decision on how to continue production in the USA.”

In a FOX News interview published on Sunday, Trump said it was not likely to extend the last date of July 9, imposed on countries to make agreements with the United States to avoid higher tariffs. However, it did not completely exclude it.

Orum I don’t think I will do it, dedi he said, “I can, there’s nothing big.”

The UK will gain a 20% tariff in US beef imports and increase the quota to 13,000 tons.

Some British farmers and consumers are afraid that many US farmers can open the door of beef from cattle grown using hormones to increase the growth used by many US farmers.

However, the government said that the certification procedures and border controls will ensure that hormone beefs do not enter England.

The US ethanol up to 1.4 billion liters can also come without tariffs and eliminate the 19% tariff rate on US ethanol shipments.

However, the British bioethanol industry says the agreement makes it impossible to compete with the intensely subsidized US products.

In April, Trump applied comprehensive mutual tasks to most trading partners worldwide, but he paused the tariffs after days to allow negotiations.

On Friday, Trump said that the country called Canada with Canada due to digital service tax.

On Sunday, however, the Canadian Ministry of Finance said it canceled the digital service tax to advance trade negotiations.

The two countries share among the largest trade relations with more than 900 billion dollars ($ 656 billion) in 2024, including goods and services.

Other countries are in line with broker agreements with the USA.

Thai Trade Minister Pichai Naripthafan said that the country will meet with the largest trade partner, the hopes of reducing the tariffs applied to Thai goods from 36% to 10%.