 "Trump, Starmer seal ‘fair’ US-UK trade deal at tumultuous G7 summit")
US President Donald Trump and UK Prime Minister Keir Starmer have signed a trade deal at the G7 Summit, which would give London protection from any future tariffs.
“I just signed it, and it’s done. And so we have our trade agreement with the European Union, and it’s a fair deal for both, and it produces a lot of jobs, a lot of income,” Trump told reporters.
Asked if the UK has impunity against future tariffs, the US president said, “The UK is very well protected. You know why? Because I like them – that’s their ultimate protection.”
Most countries represented at the G7 are already subject to a 10 per cent baseline tariff imposed by Trump, with European countries and Japan also hit with additional levies on cars, steel, and aluminium.
What does the deal say?
According to information released by the Department for Business and Trade, the UK aerospace sector will face zero tariffs in the US, while tariffs on the auto industry will be reduced from 25 per cent to 10 per cent.
Although the UK’s steel and aluminium industry still face 25 per cent tariffs for now, it is much less than Washington’s global rate of 50 per cent.
The order also says that the UK has “committed to working to meet American requirements on the security of the supply chains of steel and aluminium products intended for export to the United States and on the nature of ownership of relevant production facilities”.
Impact Shorts
More ShortsOther G7 members urge Trump to ease trade tensions
Meanwhile, G7 leaders used the meeting to sit down with Trump one-on-one to make their case for the US leader to seal agreements that would eliminate the worse of the US tariff threat.
In official sessions, the leaders also warned Trump that the tariffs could bring serious harm to the world economy.
“Several participants asked to end the tariff dispute as soon as possible,” a senior German official told reporters on condition of anonymity.
They argued that the dispute weakens the G7’s economies and “in the end will only strengthen China,” the official said.
The trade issue is of urgent interest to Canada after the Trump administration announced several additional levies on Canadian imports in recent months, throwing the economic future of America’s northern neighbour into deep uncertainty.
With inputs from agencies
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