By William Miller, for Eurasia Business News, June 16, 2025. Article no. 1567

The United States and the United Kingdom have officially signed a bilateral trade deal, finalized during the G7 summit in Canada on June 16. In this agreement, the Trump administration agreed to roll back tariffs imposed on British steel and automobiles, including lifting the 25% tariff on UK steel and aluminum and reducing car tariffs from 27.5% to 10% on the first 100,000 cars exported from the UK to the U.S. In exchange, the UK committed to purchasing Boeing jets and granting American farmers greater access to its markets, particularly for agricultural products like beef and ethanol.

President Donald Trump described the deal as “fair for both” countries, highlighting its potential to create jobs and generate income. British Prime Minister Keir Starmer called it “a really important agreement” and “a real sign of strength” for both nations. The deal marks the first comprehensive trade agreement finalized by the Trump administration following the imposition of broad tariffs earlier in the year and aims to boost bilateral trade while addressing previous tariff disputes.

The agreement also includes provisions to reduce non-tariff barriers and fast-track American goods into the UK market, reinforcing economic security alignment between the two countries. While a baseline 10% tariff remains on many goods, the deal significantly improves market access for U.S. exporters and stabilizes trade relations between the U.S. and the UK.

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© Copyright 2025 – Eurasia Business News. Article no. 1567.