UK agrees US trade deal on cars and parts
The UK has formally signed a US trade deal to lower tariffs on car exports and parts.
The deal means the US will allow up to 100,000 UK-made cars into the US at a 10% tariff, instead of the 25% import tax imposed on all car imports earlier this year.
The announcement has been welcomed by the Society of Motor Manufacturers, which had urged the government to secure a trade deal with the US to protect the UK automotive sector.
Chief executive Mike Hawes said: “This is great news for the UK automotive industry, helping the sector avoid the severest level of tariffs and enabling many manufacturers to resume deliveries imminently.
“We wait to see the full details of the deal and how it will be administered but this will be a huge reassurance to those that work in the sector and bolster the confidence of our important US customers. The fact the UK has secured a deal, ahead of many competitors, and which makes automotive a priority, should be recognised as a significant achievement.”
