The US and UK have reached a new trade agreement adjusting tariffs on key items like automobiles and steel. The US will lower the tariff on 100,000 UK-made cars from 25% to 10% and abolish high tariffs on UK-made steel and aluminum. In return, the UK will open up a market worth about $5 billion for US-made ethanol, beef, agricultural products, and machinery. The UK has also agreed to purchase $10 billion worth of Boeing aircraft. However, the digital services tax was not included in this negotiation.
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Auto-posted at: 2025-05-09 09:01:21