Tariffs to be cut on UK-made cars, beef, under new deal, Telegraph says

The U.S. will cut tariffs on UK-made cars to 10% as part of Donald Trump’s trade deal with the UK and in return the United Kingdom and United States will slash tariffs on beef imports and exports close to zero, though Britain will not allow hormone-treated beef into the UK as part of the deal, The Telegraph understands. The terms form part of a 12-month “temporary arrangement” ahead of striking what Britain and the U.S. hope will be a comprehensive trade deal in the coming months, the report added. Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz (MBGYY), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM), Volkswagen (VWAGY) and Tata Motors (TTM). Publicly traded meat producers include Hormel Foods (HRL), Pilgrim’s Pride (PPC) and Tyson Foods (TSN).