Trump to Cut UK Car Tariffs, Full Deal Coming Soon

BlockBeats News, May 8th: In the trade agreement reached between Trump and the UK, the US will reduce tariffs on Land Rover (Range Rovers) and other UK-made cars to 10%. This is part of a 12-month "interim arrangement," with the UK and the US aiming to reach a comprehensive trade deal in the coming months. In return, the UK and the US will reduce beef import and export tariffs to near-zero levels, but the UK will not allow hormone-treated beef to enter the UK.

In March this year, Trump announced a 25% tariff on foreign-made cars and car parts, leading Jaguar Land Rover to halt exports to the US. It is understood that UK automakers will receive a quota of 100,000 vehicles, which will be exported to the US at lower tariffs. The current 25% tariff on UK exports of steel to the US will also be reduced, although the details of the tariff rates and quotas are still to be finalized. A source said, "We will immediately reduce industry tariffs." (FX168)