The US president unveiled details of a trade agreement with the United Kingdom that offers relief for key UK industries from some of the Trump's tariffs. But a 10% duty on most UK goods will remain.
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00:00some relief for britain's car makers the import tax on uk cars which trump set at 27.5 percent
00:09will be lowered to 10 percent for the first 100 000 cars per year after that the higher tariff
00:17sets in the u.s is the largest destination for british automobiles accounting for a quarter of
00:24uk auto exports last year it's welcome news for jaguar land rover workers the british car
00:31manufacturer is expected to resume shipments to the u.s soon after halting for a month additionally
00:38levies on british steel and aluminum will be reduced to zero in return the uk has to open up
00:44some of their markets the deal includes billions of dollars of increased market access for american
00:50exports especially in agriculture dramatically increasing access for american beef ethanol and
00:58virtually all of the products produced by our great farmers american machinery chemicals and other
01:06industrial u.s products will also gain easier access to the uk market according to the deal
01:13uk prime minister kirsch damer participated in the event remotely by phone this is going to boost trade
01:20between and across our countries it's going to not only protect jobs but create jobs opening market
01:28assets most britains welcome the limited u.s uk tariff deal but fear the agreement will not get rid of
01:37economic uncertainty i think it's uh you know moving in the right direction albeit you know trump's
01:45probably not the one person we want to be working with uh based on principles and ethics but i think
01:51financially and economically it makes sense when you have somebody who has that much power who wakes up
01:56every morning and changes his mind i don't have uh i don't have any kind of concrete
02:03thoughts on it because tomorrow might be something different again
02:09unlike many of its major trading partners the united states has a trading surplus with britain
02:15to the tune of some 12 billion dollars which made the negotiations easier the trump administration
02:22says it is in active negotiations with india south korea and japan u.s and chinese officials
02:29are due to hold talks in switzerland on saturday
02:33you