US & UK Sign Landmark Trade Deal on VE Day Anniversary

• 10 May 2025

On 8th May 2025, the UK became the first country to sign a trade agreement with the US since President Donald Trump’s announcement of reciprocal tariffs in April.

• The deal coincided with the 80th anniversary of VE (Victory in Europe Day) Day, marking a symbolic moment of renewed US-UK partnership.

Key Points

• Tariff Relief for UK: US car tariffs slashed from 27.5% to 10% for the first 100,000 vehicles; steel and aluminium tariffs reduced to 0%.
• Agricultural Access: UK beef gains access to US markets for the first time; US farmers get quota-based access to UK markets with beef tariffs reduced from up to 125% to 0%.
• Industrial & Supply Chain Security: Creation of a US-UK Aluminum and Steel Trading Zone; cooperation to secure pharma and industrial supply chains.
• Strategic Collaboration: Nations pledged to counter non-market economic practices and enhance coordination on export, investment, and technology security.
• Economic Boost: US president announced $6 billion in external revenue and $5 billion in new export opportunities for US producers as part of the deal.