Rolls-Royce engines tariff-free after deal

SHARES JUMP 4% AS COMPANY IS GIVEN 'SPECIAL TREATMENT'

- By ZENA HAWLEY

ROLLS-ROYCE share prices rose sharply after U.S. commerce secretary Howard Lutnick revealed that the company's engines and parts will be excluded from tariffs as part of the US-UK trade deal.

The devil is in the detail, but it seems that a $10 billion deal is being done that means the UK will buy Boeing planes in return for the Rolls-Royce engine tariff exemption, which could be a boost for Derby.

Mr Lutnick said: "We've agreed to let Rolls-Royce engines and those kind of plane parts come over tariff-free. What you're going to hear is there's going to be an announcement that the UK are buying ten billion worth of Boeing planes later today.