Trump signs order confirming parts of UK-US tariff deal

President Donald Trump has signed a decree to reduce prices on British cars sent to the United States, which will put into force parties of a tariff agreement agreed between the two countries last month.

Speaking at the G7 summit in Canada, Prime Minister Sir Keir Starmer described the “very important day” move for the two countries.

It comes after weeks of talks to implement parts of the pact, which the British government hopes will protect British companies from the impact of Trump prices.

But the agreement includes a 10% levy from most British goods, including cars, and did not address the expected deletion of costs on steel imports.

The pact, initially agreed last month, is the first that the White House announced since it imposed large -scale prices on various goods entering America earlier this year.

It was signed shortly before the White House, the White House left Trump left the summit early due to the situation in the Middle East.

Trump has increased taxes on goods entering the United States, in a series of fast fire announcements in order to encourage businesses and consumers to buy more American manufacturing.

The movements had triggered financial disorders and alarms worldwide, including in the United Kingdom, where car manufacturers and stupidity count on the United States as a key destination for exports.

In order, Trump signed on Monday, the United States said that this would allow 100,000 cars in the United States at a rate of 10%, instead of the 25% import tax imposed on all imports of cars earlier this year, as agreed under the terms described in May.

The order indicates that the United States would set up a similar system for steel and aluminum, but had not specified what it would be.

“We will let you have this information in a short time,” said the American president when asked if the steel rates would be chopped for the United Kingdom – an important part of the original tariff pact.

The British government said it “continues to go further and progress to 0% prices on Steel Core products as agreed”.

The prescription also agreed to remove prices on certain types of aerospace products.

Sir Keir said that the agreement “implements car and aerospace prices” and described the agreement as a “sign of strength” between Great Britain and America.

In response to a question about future prices, Trump said the United Kingdom was “very well protected”. “You know why? Because I love them,” he added.

The US-UK rates agreement will come into force seven days after its official publication.

Mike Hawes, director general of the Society of Motor Manufacturers and Traders, which represents British car manufacturers, said that it was “huge insurance” for the sector.

He told the BBC Today program that there had been “much less” exports of British cars in the United States when the industry was waiting for the agreement to be ratified.

On Monday, JLR, the British car manufacturer belonging to Tata Motors of India, lowered its procurement forecasts after arresting expeditions in the United States in April due to prices.

Mr. Hawes said: “British exports to the United States have never been a threat to American production. Last year, we only exported 100,000-it was small volume products, so not the type that is manufactured in the United States.”

Car expeditions to the United States have already undergone a rate of 2.5%, which meant that if an agreement had not been concluded, British exports would have been imposed at 27.5% when they reached the States.

Hawes said that the 10% rate “gives some of the British manufacturers something of a competitive advantage because their competitors tend to come from Italy or from Germany who are still subject to a price of 27.5%”.

The secretary of companies and trade Jonathan Reynolds said that the announcement was “the result of a work at a rate between the two governments to reduce the burden of British companies”.

“We will update Parliament on the implementation of US beef and ethanol, part of our commitment to the United States under this agreement,” he added.

American beef exports to the United Kingdom have always been subjected to a tariff of 20% in a quota of 1,000 metric tonnes. The United Kingdom had agreed to remove this price and increase the quota to 13,000 metric tonnes, depending on the conditions shared last month.

But the British government has insisted that there will be no weakening of food standards and that any importation of American beef will have to meet food security requirements.

The ministers welcomed the US agreement alongside trade agreements with the European Union and India.

But the US agreement is much more limited than the complete trade agreement that has long been discussed on Downing Street. The scope of what was signed on Monday also seemed more restricted than the general conditions of the agreement, as indicated last month.

Trump previously said that the prices pact is a “main trade agreement”, but that is not the case. The American president does not have the power to sign free trade agreements without the approval of the congress.

Trump said Sir Keir had done “what others … could not do” to conclude such an agreement with the United States.

“He did what the others – they have been talking about this agreement for six years … and he did what they could not do.”

The pact has aroused criticism of the opposition parties in the United Kingdom. The leader of the Conservative Party, Kemi Badenoch, described him as “little pricing agreement”.