UK and US Near Trade Agreement to Reduce Tariffs on Steel and Automotive Exports

According to BlockBeats, officials from the United Kingdom and the United States are close to finalizing a trade agreement that will lower tariff quotas on British steel and automotive exports. The deal is expected to be signed this week, providing relief for certain UK exports from the 25% additional tariffs imposed by U.S. President Donald Trump in February and March on steel and automotive imports. A senior UK official noted that negotiations are progressing rapidly, although there are still disagreements between the two countries regarding pharmaceutical issues. The UK's proposal includes concessions on the digital services tax to Washington, reducing tariffs on American automotive exports, and lowering tariffs on U.S. agricultural products.