The White House announced a trade deal between the U.S. and United Kingdom on May 8, adding that it would create a $5 billion export opportunity for U.S. agricultural workers. Nearly a month later, the trade deal has yet to be enacted, per Bloomberg.
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“When it comes to implementation of the agreement, that work is ongoing,” said UK Prime Minister Keir Starmer’s spokesperson, Dave Pares. The agreement signed between the U.S. and UK allows for the UK to “not pay tariffs for the majority of steel products that they’re exporting to the US,” added Pares.
Now, the UK is at risk of receiving 50% tariffs on steel and aluminum exports to the U.S., up from 25%.
U.S.-UK Trade Representatives to Hold Meeting
In order to address the steel and aluminum tariffs, which are due to be enforced on Wednesday, UK Business Secretary Jonathan Reynolds will meet with U.S. Trade Representative Jamieson Greer today in Paris. President Trump announced the tariff increase for all steel and aluminum imports to the U.S. last Friday.
In 2024, the U.S. exported $79.9 billion of goods to the UK and imported $68.1 billion, resulting in a goods trade surplus of $11.9 billion.
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