Trading pact between the USA and Great Britain: tariffs fall for cars!

Trading pact between the USA and Great Britain: tariffs fall for cars!

On the edge of the G7 summit in Canada, the United States and Great Britain have significantly advanced their trading pact. But what exactly is behind this agreement? US President Donald Trump signed a pioneering regulation that includes customs balance for British cars and other goods. These measures could make economic interaction between the two countries considerably easier. ZVW reports that the tariffs should be reduced to up to 100,000 British vehicles per year to 10 percent. A real advantage for British automobile manufacturers!

for this makes the market entrance for American beef and ethanol significantly easier. Customs make -ups for British aircraft parts are also in the works. The import of Boeing aircraft worth $ 10 billion (around 8.6 billion euros) is also sought. An exciting step, because this could significantly strengthen the relationships in the aviation area.

the view of the commercial numbers

The trade relationships between the two nations are impressive. Last year, the trading volume between the United States and Great Britain was around 370 billion euros. Around 70 percent of British exports to the United States are eliminated to services that are not affected by tariffs. The remaining 30 percent are, which underlines the importance of the service sector in this connection. Boersnews emphasizes that the role of Great Britain as the most important trading partner of the United States. Strictly speaking, the agreement will initially do not include the US tariffs on British steel and aluminum. However, the US Minister of Trade should make a decision in the future, depending on British concessions in terms of supply chains. Tagesschau explains that Trump described the agreement as a "breakthrough", even if the exact details are still unclear. A fact that will certainly provide a lot of conversation.

market diversification and opportunities

These new agreements could not only strengthen existing trade conditions, but also change the dynamics of the market. After all, the United States and Great Britain are not only closely connected business partners, but also crucial for innovation and technology transfer. Strengthening these relationships could open British companies new markets and at the same time give American companies the opportunity to gain a foothold in Great Britain.