Terms of the trade document with the UK being fed out in dribs and rabs.
White House:
- United States intends to create an annual quota of 100,000 vehicles for United Kingdom automotive imports at a 10 percent tariff rate
- U.S., UK committed to negotiate significantly preferential treatment outcomes on pharmaceuticals and ingredients of UK, contingent on findings of an investigation
- U.S. intends to promptly construct a quota at most-favored-nation rates for steel and aluminum articles and certain derivative steel and aluminum articles that are products of UK
- U.S., UK committed to strengthen aerospace and aircraft manufacturing supply chains by establishing tariff-free bilateral trade in certain aerospace products
- Imports of automobiles within tariff-rate quota that would otherwise be subject to 25% tariff shall instead be subject to combined tariff of 10%
- Trade deal repeals tariffs on UK aerospace industry imposed in three previous executive orders
—
These two managed to fumble the trade deal, literally:
pic comes via @StefanRousseau
This article was written by Eamonn Sheridan at www.forexlive.com.
