Meeting in Canada
USA and Great Britain are promoting trading pact
At the beginning of May, US President Trump and the British Prime Minister Strander announced a trade deal. Now the implementation is progressing – but there are points that have not yet been clarified.
The United States and Great Britain advanced their trading pact announced in early May on the edge of the G7 summit in Canada. In the presence of the British Prime Minister Keir Strandmer, US President Donald Trump signed a regulation on the implementation of customs emphasis, including for up to 100,000 British cars per year.
It is a fair deal for both, Trump said to journalists in Kananaskis in the Rocky Mountains. “That will create a lot of jobs, a lot of income.” Strander spoke of a “very good day for our two countries”. The United States and Great Britain had announced their trading pact at the beginning of May – for Washington it was the first agreement with an important trading partner since Trump’s far -reaching pollution of tariffs in early April.
10 instead of 25 percent for up to 100,000 British vehicles
So far, as for all other nations, the British has been valid for most export goods in the amount of 10 percent. 25 percent are even charged on steel and aluminum as well as cars and auto parts. This should now be reduced to 10 percent for a quota from 100,000 vehicles. According to the White House, Great Britain is intended to facilitate market access for American beef and ethanol.
In addition, according to Trump’s decision, there are customs easier for aircraft parts from Great Britain. In return, it was announced in May that Great Britain should import Boeing aircraft worth ten billion US dollars (approx. 8.6 billion euros).
The announced cancellation of US tariffs on British steel and aluminum does not initially come-instead, Trump’s arrangement stipulates that the US Minister of Trade should define customs easier for steel for an unreasonable future time. The document states that Great Britain should only meet certain concessions with regard to the supply chains for steel and aluminum products.
The trading volume between the United States and Great Britain was the equivalent of around 370 billion euros last year. In about 70 percent of British exports to the United States, however, these were services that are not affected by tariffs and only around 30 percent.
dpa
Source: Stern
