A deal to cut import tariffs between the US and UK has come into force, giving British car makers preferential access to the world’s biggest consumer market.
It will allow UK motor manufacturers to sell up to 100,000 vehicles to the US at a tariff of 10% – a big advantage over international competitors – while tariffs on UK aerospace exports have been cut to zero.
In return, the UK will scrap tariffson beef and US ethanol imports – a move which the British bioethanol industry says will make it impossible for it to compete.
However, UK steel and aluminium remain subject to a 25% tariff, which could double to 50% if the UK and US do not reach a deal by deadline day on 9 July.