US HAS AGREED TO REDUCE IMPORT TAX ON BRITISH CARS

The US has agreed to reduce import taxes on a set number of British cars and allow some steel and aluminium into the country tariff-free, as part of a new agreement between the US and UK.

The announcement has offered relief for key UK industries from some of the new tariffs announced by President Donald Trump since entering office in January but it will leave a 10% duty in place on most goods from the UK.

Though this has been hailed by leaders in the two countries as significant, analysts say it has not appeared to meaningfully alter the terms of trade between the countries, as they stood before the changes introduced by Trump this year