According to The Wall Street Journal, informed sources revealed that the US is drafting relevant terms for trade negotiations with the UK, aiming to persuade the UK to reduce tariffs and other non-tariff barriers on various US goods.
Informed sources disclosed that the Trump administration distributed a draft document to stakeholders this week, outlining the objectives of trade negotiations with the UK. The document indicates that the US hopes the UK will reduce car tariffs from 10% to 2.5%. Additionally, the US will push for the UK to relax import regulations on US agricultural products, including beef, and revise the rules of origin for goods between the two countries.
However, the sources also noted that the terms have not yet been finalised, and the US government is still soliciting opinions from stakeholders, who need to provide feedback on the US government's objectives by 5 PM local time on April 23.
For now, Trump imposes a 10% tariff on most UK imports and a 25% tariff on key industries such as cars and steel. It remains unclear whether the US would consider reducing tariffs on the UK if the UK agrees to all US trade demands. Trump previously stated that a 10% tariff is the "minimum" for all countries but hinted that exceptions might be possible.
White House spokesperson Kush Desai stated, "The government's trade and economic teams are negotiating customised agreements with our major trading partners at an extremely rapid pace. However, any final decisions and agreements will be made by President Trump, and by President Trump alone."
According to The Wall Street Journal, the timetable for US-UK trade negotiations remains unclear, though UK Chancellor Rachel Reeves is in Washington this week. Reuters reported that a UK government spokesperson declined to comment on specific details in the report, stating that they would not provide real-time commentary or set any timetable for ongoing trade negotiations. The spokesperson added, "We have made it clear that a trade war benefits no one, and we will continue to advance negotiations with calmness and steadiness, committed to seeking solutions."