US trade deal to reduce tariffs on British car and aircraft parts comes into effect
Internet reports that the British government said on Monday that a trade agreement signed by U.S. President Trump and British Prime Minister Thomas Stamer to reduce some tariffs on goods imported from the UK has come into effect. The statement reiterated details announced earlier in June, saying that British carmakers can now export cars to the United States under a 10% tariff quota, compared with the previous tariff of 27.5%. The current 10% tariff imposed by the United States on goods such as British aircraft engines and aircraft parts has been completely eliminated. However, the issue of steel and aluminum tariffs has not yet been resolved. Britain avoided tariffs of up to 50% on steel and aluminum imposed by the United States on other countries earlier this month, but unless a deal is reached, it could face higher tariffs starting July 9. The UK added in the statement,"We will continue to move forward and make progress on imposing a 0% tariff on core steel products in accordance with the agreement."
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