The UK and the US are close to a deal that would lessen the impact of “Liberation Day” and US President Donald Trump’s tariffs.
According to reports from the FT, the US will grant lower-tariff quotas for British car and steel exports. Officials in London and Washington have stated that the deal, set to be signed this week, will also include quotas that spare some UK exports from the full brunt of the additional 25% tariffs that Trump levied earlier this year. In return, the UK will include concessions to Washington on the country's digital services tax levies on international technology companies, cuts on tariffs imposed on US car exports and a reduction of tariffs on US agricultural products. UK City minis...
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