New trade agreement between the US and the UK

Meeting at the G7 Leaders' Summit held in the Alberta region of Canada, US President Donald Trump and UK Prime Minister Keir Starmer announced that a trade agreement between the two countries has been signed.

Stating that the agreement is fair for both countries, Trump said, "This agreement will create jobs and revenue, and will also pave the way for other agreements."

Prime Minister Starmer emphasized that the agreement is an important step in automotive tariffs and the aviation sector, stating, "Today is a day that serves as a show of strength for both countries."

In a decree published by the White House, it was stated that the UK has committed to reducing non-tariff barriers that harm the US manufacturing infrastructure and threaten its national security. Furthermore, it was announced that the US will set an annual quota of 100 thousand vehicles for cars imported from the UK, with a 10 percent tariff applied up to this quota.

The decree also stated that a quota would be established for steel and aluminum imports provided that certain conditions are met, and that preferential treatment would be provided for UK-origin pharmaceuticals and pharmaceutical raw materials, depending on the results of an investigation.

It was also reported that an agreement has been reached to strengthen aviation and aircraft production supply chains, and that tariff-free trade will be conducted for certain aviation products.

News Source: 12punto