US, UK Sign Partial Trade Deal at G7

At the G7 Summit in Canada, U.S. President Donald Trump and U.K. Prime Minister Keir Starmer announced a partial trade agreement reducing tariffs on British auto and aerospace imports, while steel and aluminum tariffs remain under negotiation. The agreement is part of a broader trade framework discussed earlier, with full implementation and further talks, especially on steel, expected in the future. The signing was marked by an awkward incident where Trump confused the UK with the European Union, highlighting uncertainties surrounding the deal. In a related development, Nippon Steel and U.S. Steel finalized a $15 billion merger to become the world’s fourth-largest steelmaker, with special oversight provisions addressing U.S. national security concerns. The UK will gain expanded market access for American beef and ethanol, but immediate steel tariff relief is postponed. Both governments emphasized the economic significance of the agreement, which aims to support key sectors and job growth.