U.S., UK reach trade deal, but details still to be worked out

Trump announced at the White House on the 8th that the United States and the United Kingdom have reached a new trade agreement, partially withdrawing tariffs in specific areas and further expanding market access for products from both sides. According to documents released by the White House, the first 100,000 cars exported from the United Kingdom to the United States each year will be taxed at an additional tariff rate of 10%, and the excess will be taxed at an additional tariff rate of 25%. The United Kingdom will reduce or eliminate non-tariff barriers and expand market access for American beef, ethanol, grain and other products and some industrial products. The British government issued a statement on its official website that the tariffs on steel and aluminum products exported by the United Kingdom to the United States will be abolished. The tariff on cars imported from the United Kingdom to the United States will be reduced from the current 27.5% to 10%. In addition, within a certain quota, the United Kingdom's agricultural products will also be exported to the United States at zero tariffs. The United Kingdom will reduce the tariff on ethanol imported from the United States to zero. In addition, the White House emphasized that the so-called "reciprocal tariff" of 10% previously imposed by the United States on its trading partners will continue to be retained. (Xinhua News Agency)