US SLASHES IMPORT TARIFF TO 10% FOR FIRST 100K UK CARS

TARIFFS ON THE first 100,000 UK-built cars imported to the US will be reduced from 25% to 10% as part of a major new trade deal between the two countries.

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The deal follows more than a month of negotiations between UK and US officials after US president Donald Trump announced sweeping import tariffs on foreign-made products.

All tariffs were due to start on 1 April but a 90-day reprieve was given to allow negotiations to take place.

Details of the new deal are sparse but the US said the 10% tariff - which brings cars in line with the levy on other foreign goods - will apply to “100,000 cars”. The suggestion is that anything over this number will be hit by the 25% rate. Before Trump's announcement in March, the tariff was 2.5%.