Lates News

According to CCTV news, on June 16th local time, the White House in the United States issued a statement announcing the general terms of a trade agreement between President Trump and UK Prime Minister Stamer. It is reported that, under the general terms, the US plans to impose a tariff of 10% on an annual quota of 100,000 cars imported from the UK. The UK has promised to make efforts to meet US requirements for supply chain security of steel and aluminum products exported to the US, as well as the ownership nature of related production facilities. Based on the UK meeting these requirements, the US plans to quickly establish a "most favored nation" tariff quota for steel and aluminum products produced in the UK. In addition, both sides have committed to strengthening the aerospace and aircraft manufacturing supply chain through duty-free bilateral trade of certain aerospace products. The US has abolished the tariffs previously imposed on the UK aerospace industry in three executive orders.