US UK Trade Deal Reveals New Tariff Landscape with 10 Percent Baseline and Sector Specific Restrictions on Imports
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US UK Trade Deal Reveals New Tariff Landscape with 10 Percent Baseline and Sector Specific Restrictions on Imports
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Last week, President Trump announced the framework of what he called a "historic trade deal" with the United Kingdom. Under this agreement, the 10% baseline tariff that Trump imposed on all trading partners on April 2nd, which he called "Liberation Day," remains in effect for UK imports to the United States.
The deal includes several key provisions for specific sectors. UK car manufacturers face a significant restriction – the first 100,000 vehicles imported into the U.S. each year are subject to the reciprocal rate of 10%, but any additional vehicles beyond that quota will face a higher 25% tariff rate.
The UK has agreed to lower its tariffs on American goods from 5.1% to just 1.8%, creating what the White House describes as "a golden age of new opportunity for U.S. exporters" and leveling the playing field for American producers. This is particularly significant given that the UK previously maintained tariffs up to 125% on certain products like meat, poultry, and dairy.
The United States has also committed to negotiate an alternative arrangement to the Section 232 tariffs on steel and aluminum from the UK, with both countries planning to create a new trading union for these materials.
According to the Budget Lab at Yale University, despite these developments, the US-UK trade deal has had minimal effects on average tariff rates. American consumers still face an overall average effective tariff rate of 17.8%, which is the highest since 1934.
It's worth noting that the 10% baseline tariff represents a new normal in U.S. trade policy. The Council on Foreign Relations points out that with the UK unable to successfully push for the removal of this tariff, countries next in line for negotiations may face similar terms.
Total goods trade between the U.S. and UK was estimated at $148 billion in 2024, representing about 3% of total U.S. global trade. The final details of this framework agreement are still being written, with formal negotiations continuing in the coming weeks.
Thank you for tuning in to United Kingdom Tariff News and Tracker. Be sure to subscribe for regular updates on how changing tariff policies affect UK-US trade relations. This has been a quiet please production, for more check out quiet please dot ai.
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