Lates News

On June 16th, local time, Trump announced that the United States has reached a trade agreement with the United Kingdom called the "General Terms." The agreement will provide unprecedented access opportunities for American companies, strengthen national security and economy. The White House said that the UK's quota for car imports, which should have been subject to a 25% tariff, will be changed to a total of 10% tariff. The United States plans to set an annual quota of 100,000 cars for British car imports with a tariff rate of 10%. The United States and the UK have promised to reach an agreement on significant preferential treatment for drugs and their raw materials, provided that the results of relevant investigations meet expectations. The United States plans to quickly set quotas for steel and aluminum products, as well as certain derivative steel and aluminum products produced by the UK, at the most favored nation tariff rate. The US-UK trade agreement abolishes the tariffs previously imposed on the UK aerospace industry in three executive orders.