Loading...
Timely insights from the Economy, Strategy & Finance Center
Last week the US announced the general terms of its “United States of America and the United Kingdom of Great Britain and Northern Ireland Economic Prosperity Deal” while the leaders of both nations attended the Group of Seven (G7) summit in Canada. The agreement lowers US tariffs on imports of British automobiles and aerospace equipment, with tariffs around steel and aluminum goods potentially being reduced, pending UK actions related to securing its steel supply chain.
Why it matters: The US-UK agreement was initially announced in May, with the UK being the first country the US struck a deal with after the April 2 “Liberation Day” and subsequent 90-day reduction of tariffs. However, details of what was to be included in the US-UK trade pact were unclear during that initial announcement.
Other than China—for which US tariffs had escalated to 145% for a time this spring—the UK is the only economy that the US has announced coming to a trade agreement with, which is still largely considered a framework and not a final pact. This comes at a time of increasing geopolitical uncertainty and the escalation of conflicts globally. The pause on the “Liberation Day” tariffs—which brought most imported goods down to a 10% tariff level—end
myTCB® Members get exclusive access to webcasts, publications, data and analysis, plus discounts to events.
New Truce Offers Stability after US–China Trade Plummeted in 2025
November 05, 2025
Fed Signals It May Need to Pause
October 29, 2025
Fed Cut Amid Data Fog: What You Need to Know
October 28, 2025
CPI Details Give Green Light to Further Fed Rate Cuts
October 24, 2025
Rising Inflation Still Leaves Room for Fed Rate Cuts
September 26, 2025
Rising Labor Market Risks Unite the Fed to Deliver 25bps Cut
September 17, 2025
Charts
The proliferation of easy-to-use generative AI requires that policymakers and business leaders each play an important role.
LEARN MORE
Charts
A hyperpolarized environment, diminished trust in our nation’s leaders.
LEARN MORE
IN THE NEWS
Denise Dahlhoff on How CEOs Are Talking About Tariffs—without Saying “Tarif…
May 21, 2025
IN THE NEWS
Erin McLaughlin on Tariff Policy
April 07, 2025
IN THE NEWS
Erin McLaughlin on Reshoring Factors
April 05, 2025
IN THE NEWS
Erin McLaughlin on US Reshoring
April 02, 2025
IN THE NEWS
Erin McLaughlin: How policy uncertainty may exacerbate infrastructure chall…
March 19, 2025
IN THE NEWS
Erin McLaughlin discusses the latest on tariff policy
March 14, 2025
Email
Linkedin
Facebook
X
Copy Link
