Trump, Starmer say US-UK trade deal finalised

KANANASKIS US President Donald Trump and British Prime Minister Keir Starmer said on Monday they had finalized a trade deal reached between the two allies last month.

Trump, standing alongside Starmer at the Group of Seven summit in Canada, said the relationship with Britain was "fantastic," as he waved, and then briefly dropped, a document that he said he had just signed.

"We signed it and it's done," he said, incorrectly calling it a trade agreement with the European Union, before making clear the deal was with Britain.

Starmer said the proclamation would implement agreements reached on auto tariffs and aerospace, without providing details. "This is a very good day for both of our countries, a real sign of strength," he said.

Three sources familiar with the matter told Reuters earlier that the proclamation on terms of the deal would cover provisions on trade in steel, ethanol, autos and beef.

The White House said US Commerce Secretary Howard Lutnick would determine a quota for UK steel and aluminum imports that could enter the United States without facing Trump's 25% tariff on steel. No further details were immediately available.

Britain was the first country to agree on a deal for lower tariffs from Trump, with the US reducing tariffs on imports of UK cars, aluminum and steel, and Britain agreeing to lower tariffs on US beef and ethanol.

But implementation of the deal has been delayed while details were being hammered out.

Britain called the deal a huge win for its aerospace and auto sectors, noting the UK was the only country to have secured such a deal with Washington.

“Bringing trade deals into force can take several months, yet we are delivering on the first set of agreements in a matter of weeks. And we won’t stop there," UK Trade Secretary Jonathan Reynolds said in a statement.

Reynolds said the two sides agreed to reciprocal access to 13,000 metric tons of beef, while making clear that US imports would need to meet tough UK food safety standards.

He said both countries remain focused on securing "significantly preferential outcomes" for the UK pharmaceutical sector, and work would continue to protect industry from any further tariffs imposed as part of Section 232 investigations under way by the US Commerce Department.

Britain had avoided tariffs of up to 50% on steel and aluminum that the US imposed on other countries earlier this month, but could have faced elevated tariffs starting July 9 unless the deal to implement the tariff reduction was reached.