The US and UK have reached a trade agreement. Which industries will benefit from this
Components for the US aerospace industry will be imported from the UK with a zero rate, and cars within 100,000 units will be imported with duties of 10%

U.S. President Donald Trump and British Prime Minister Keir Starmer announced at the G7 summit on Monday, June 16, the signing of the trade agreement reached by the allies last month. "We signed it, and it's done. It's a fair deal for both sides. It will create a lot of jobs and bring in a lot of revenue," said Trump as quoted by Sky News.
Here's what the parties agreed to:
- The U.S. will eliminate duties on British aerospace products such as engines and aircraft components, said in the text of the agreement published on the White House website. The rate for them is now 10%,.
- Duties on imports of up to 100,000 cars per year should be reduced from 27.5% to 10%. Also, components will be subject to duties of 10% instead of 25%.
- The two sides agreed to continue negotiations on trade benefits for British medicines and ingredients.
- The U.S. will determine tariff quotas on British steel and aluminum products. Imports in excess of this will continue to be subject to increased duties. According to the decree on the White House website, the quotas will depend on whether Britain can confirm the safety of its steel supply chains and conditions at production facilities.
The UK remains the only country to be exempted from the 50% rate on steel imports into the US - for it it is 25%, Sky News reported. The duty was expected to be removed entirely, but the government said it would "continue to make further progress towards zero duties on key steel products as agreed". The US President, when asked about the zero rate on steel, said that this information would be provided later.
That evening, the U.S. leader and Canadian Prime Minister Mark Carney agreed to reach a trade deal within 30 days, according to a report on the G7 leaders' meeting released by the Canadian government. The countries are negotiating a deal that could remove duties on Canadian steel, aluminum and auto parts, writes The Wall Street Journal. Trump told reporters that disagreements remain, but a trade deal is "achievable" in the coming weeks.