UK and US are about to reach a trade agreement, to be signed this week, reducing automobile and steel tariffs

BlockBeats news, May 7, according to reports from the UK (Financial Times), UK and US officials say that the UK and US are about to reach a trade agreement that will provide lower tariff quotas for UK steel and automobile exports.

The agreement will be signed this week, which will exempt some UK export goods from the full impact of the 25% additional tariffs imposed by Trump on steel and automobile imports in February and March. A senior UK official said negotiations are still 'proceeding quickly' and reminded that there are still differences between the two sides on pharmaceutical issues. The UK's proposal includes concessions to Washington on the digital services tax, cuts to tariffs on US automobile exports, and reductions in tariffs on US agricultural products. (Jinshi)