The UK and the US are about to reach a trade agreement that will be signed this week, reducing tariffs on cars and steel

On May 7th, according to the Financial Times, officials from the UK and the US announced that they are about to reach a trade agreement that will provide lower tariff quotas for UK steel and car exports. The agreement, which will be signed this week, will fully exempt some UK exports from the 25% additional tariffs imposed by Trump on steel and car imports in February and March. A senior British official stated that negotiations are still "progressing rapidly" and reminded that there are still differences between the two sides on the issue of drugs. The UK's proposal includes making concessions to Washington on a digital services tax, reducing tariffs on US car exports, and lowering tariffs on US agricultural products. (Golden Ten)