US President Donald Trump has announced a “historic trade deal” with the UK following several months of global tariff chaos. The announcement covers various sectors, with automotive, steel and aluminium among the most impacted.
Importantly, however, this is not the “full and comprehensive” deal Trump promised on Truth Social. Those can take years to negotiate and require Congressional approval. What was announced on 8 May was the bare bones of an agreement on an amendment to the previously announced tariffs that Trump slapped on nearly 90 territories. Along with country-specific tariffs, these included a blanket 25% charge on cars and car parts, throwing the global automotive sector into a tailspin.
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