Chris Mason: Tariffs deal a triumph for Starmer - up to a point
Summary
The UK and US have reached a tariffs deal during the G7 summit, which removes tariffs on aerospace and imposes a 10% levy on cars. However, a 25% tariff on steel remains while talks continue. This deal allows trade in beef between the two countries and aims to protect UK jobs in industries like automotive.Key Facts
- The UK and US finalized a deal on tariffs during the G7 summit.
- Tariffs on the aerospace industry are completely removed.
- A 10% tariff on cars has been agreed upon.
- There remains a 25% tariff on UK steel; negotiations are ongoing.
- The UK is the only country exempt from a global 50% tariff on steel and aluminium.
- There is a new trade agreement for beef, allowing 13,000 metric tonnes of beef to be traded between the UK and US.
- The deal is meant to prevent job losses in UK industries like the automotive sector.
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