The US and UK reached a trade agreement, but the details still need to be worked out.

On the 8th, President Trump announced at the White House that the United States has reached a new trade agreement with the UK, partially removing tariffs in specific areas and further expanding market access for products from both sides. However, many details of the agreement are still to be finalized, and the 10% so-called "reciprocal tariffs" imposed by the US earlier have not been canceled. Trump told the media at the White House that the final details of the agreement will be worked out in the coming weeks. According to documents released by the White House, the first 100,000 cars exported from the UK to the US annually will be subject to an additional tariff rate of 10%, while the excess will be subject to an additional tariff rate of 25%. The UK will reduce or eliminate non-tariff barriers and expand market access for US beef, ethanol, grains, and some industrial products. The UK government issued a statement on its official website that the UK and the US will mutually reduce tariffs. Tariffs on steel and aluminum products exported from the UK to the US will be eliminated. Import tariffs on cars from the UK to the US will be reduced from the current 27.5% to 10%. In addition, within certain quotas, UK agricultural exports to the US will also be tariff-free. The UK will reduce tariffs on ethanol imported from the US to zero. Furthermore, the White House emphasized that the 10% so-called "reciprocal tariffs" imposed by the US on trading partners will continue to be in place. Trump told the media that the UK's 10% tariff is not a template for other countries, it could be the lowest tariff, and other countries may have higher tariff rates.