THE UK Government has said thousands of jobs have been saved following Britain’s trade agreement with the US.
The agreement means Britain’s steel industry – which the UK Government said was on the ‘brink of collapse just weeks ago’ – will no longer face tariffs.
US businesses wishing to import steel and aluminium from the UK into the US were required to pay a 25% tax as of March, however that tariff has now been negotiated down to zero.
Tariffs on car exports have also been reduced from 27.5% to 10%, whilst tariffs on ethanol have been removed, and new reciprocal market access on beef has been agreed.
The UK Government said work will continue on the remaining reciprocal tariffs, with the US agreeing that the UK will get preferential treatment in any further tariffs imposed as part of Section 232 investigations.
PM Keir Starmer said, “The new global era demands a government that steps up, not stands aside. This historic deal delivers for British business and British workers protecting thousands of British jobs in key sectors including car manufacturing and steel. My government has put Britain at the front of the queue because we want to work constructively with allies for mutual benefit rather than turning our back on the world.”
