According to BlockBeats, on May 8, in the trade agreement reached between Trump and the UK, the U.S. will reduce tariffs on Range Rovers and other British-made cars to 10%. This is part of a 12-month 'temporary arrangement', and the UK and the U.S. hope to reach a comprehensive trade agreement in the coming months. In return, the UK and the U.S. will reduce beef import and export tariffs to nearly zero levels, but the UK will not allow hormone-treated beef to enter the country.
In March this year, Trump announced a new 25% tariff on foreign-made cars and auto parts, causing Jaguar Land Rover to stop exports to the United States. It is understood that British car manufacturers will receive a quota of 100,000 vehicles, which will be sold to the U.S. at a lower tariff. The current 25% tariff on steel exported from the UK to the U.S. will also be reduced, although details on the tax rate and quota are still to be finalized. A source said, 'We will immediately reduce industry tariffs.' (Jin Shi)