US, UK Finalize Major Trade Deal at G7

At the G7 Summit in Canada, U.S. President Donald Trump and U.K. Prime Minister Keir Starmer finalized a major trade agreement reducing tariffs on British auto imports from 27.5% to 10% for up to 100,000 vehicles and eliminating tariffs on aerospace products. The U.K. will expand market access for American beef and ethanol, while maintaining restrictions on hormone-treated beef. Despite initial expectations, steel tariffs remain at 25%, and negotiations on steel and pharmaceuticals continue. The deal aims to provide relief and stability to key British sectors, especially automotive and steel. Both leaders emphasized the economic and diplomatic significance of the agreement, describing it as a 'fair deal.' The pact marks the first comprehensive trade agreement between the U.S. and U.K. since the imposition of global tariffs, boosting jobs and business confidence in both countries.