Trump Keeps 10% Tariffs On UK But Cuts British Taxes

May 8, 2025 2:32 pm

WASHINGTON (AP) — President Donald Trump has agreed to cut tariffs on British autos, steel and aluminum in a planned trade deal. But the Republican on Thursday played down the possibility of other nations receiving similarly favorable terms on his import taxes, which are roiling the global economy. The announcement provides a political victory for U.K. Prime Minister Keir Starmer and a degree of validation for Trump’s claims his turbulent approach on trade may be able to rebalance the global economy on his preferred terms. Terms of the deal have yet to be completed so it can be signed. Trump says the agreement would lead to more beef and ethanol exports to the U.K.