The US has reached a deal with the UK on steel tariffs that includes specific conditions governing ownership of British plants to prevent circumvention by China. Concerns centered on the Chinese-owned British Steel plant, which the US feared could process steel to exploit lower tariffs. With the new agreement, car tariffs will drop to 10% and steel tariffs to zero under certain conditions. The deal has been praised for saving jobs at Jaguar Land Rover and is crucial for stability in the UK’s automotive and steel sectors amidst fears of layoffs.
The US-UK deal on steel tariffs aims to ensure British plants are not leveraged by China to circumvent US tariffs, crucial for protecting jobs.
The agreement has relieved the car and steel industries, preventing expected job losses at firms like Jaguar Land Rover despite remaining unclear terms.
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