Mixed reaction to UK-US dealpublished at 13:31 British Summer Time 9 May
We’ve been getting more reaction to yesterday’s announcement of a agreement over tariffs on some goods traded between the countries, so let’s bring you up-to-date with the latest.
What is the deal?
Simply put this is a tariff agreement that amends the levies
the president placed earlier this year:
-
Tariffs
on cars exported to the US will be reduced from 27.5% to 10% – this will
apply to a quota of 100,000 UK cars, almost the total the UK exported last
year -
The
25% tariffs on UK steel and aluminium imported by the US are to be
scrapped -
For
agriculture, there will be“reciprocal market
access” on beef which means that UK farmers will be given a
quota for 13,000 metric tonnes of beef to be exported to the US, and the
US granted the same -
A secure
supply chain for pharmaceutical products will also be created, with final
details to be written up in the coming weeks -
The
US will have preferential access to high-quality UK
aerospace components
Aside from this, the reciprocal tariff rate of 10% on the
UK, which was announced in March, remains in place.
However, it’s important to remember that nothing is
finalised. There are still months of negotiations and legal paperwork ahead.
What reaction has there been this morning?
Chancellor Rachel Reeves described it as a “good deal”
and Treasury Minister Darren Jones said that 150,000 jobs had been “protected” but that the government would “continue to negotiate in other sectors”.
Shadow trade secretary Andrew Griffith accepted that there
are some “good elements” to the deal but said “overall it’s quite
disappointing,” adding that a more “comprehensive” agreement is needed to grow
the UK economy.
British Airways‘ parent company announced it had
bought 32 new Boeing planes from the US alongside 21 from European manufacturer Airbus
Liam Bates, from stainless steel manufacturer Marcegaglia, said the announcement was “very
significant”, but adds that it would “be good to get more clarity”
Farmers have also had a mixed reaction to the
deal, with one Surrey beef farmer sharing his concerns that “US [beef imports]
could be of lower quality”
We’re closing this page for now, but you can read analysis from our political
editor Chris Mason and political
correspondent Damian Grammaticas’ and more about the deal here: US-UK agree deal slashing Trump tariffs on cars and metals.