Trump cuts tariffs on U.K. cars, steel and aluminum but keeps 10% base duty while Britain trims its taxes on 2,500 U.S. products

Quick Summary:

Under the framework agreement, the United Kingdom is to buy more American beef and ethanol and streamline its customs process for goods from the United States.

Prime Minister Keir Starmer and offered a degree of validation for Trump's claims that his turbulent approach on trade may be able to rebalance the global economy on his preferred terms.

Trump said that fewer container ships arriving from China meant “we lose less money” from the trade deficit, even though the goods in those ships are used by U.S.manufacturers and sold by retailers in ways that can support jobs while holding down prices.

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Article Details

Author / Journalist: Josh Boak, Chris Megerian, Jill Lawless, The Associated Press

Category: EconomyBusiness

Markets: United StatesChinaUnited Kingdom

Topics: Steel U.S. Autos Aluminum Tariffs Tariffs and trade U.K.

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-09 @ 08:05:03 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 1302 words

Reading Time: 8 minutes read

Sentences: 5 lines

Sentence Length: 261 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28509988

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