The U.S. and Britain are set to announce a deal to lower tariffs, with US Presidend Donald Trump to hold a news conference shortly on a "major trade deal."
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00:00Drawing on that, the US and Britain are set to announce a deal today to lower tariffs.
00:06Trump posted on Truth Social that he will hold a news conference in the Oval Office just minutes from now on a major trade deal.
00:15Americans first since announcing sweeping global tariffs.
00:19He says the agreement will be full and comprehensive, one that will cement the UK-US relations for many years to come.
00:26A British official said both sides are working on lower tariff quotas for steel and autos, two sectors hit by 25% US levies.
00:38In return, the UK will consider reducing its tariffs on US cars and cutting a digital sales tax that affects US tech groups.
00:47However, the UK government will not lower food standards in order to give US producers greater market access.
00:53As for Britain, they are trying to reduce the impact of Trump's tariffs while rebuilding trade ties with the EU and finalising a new trade deal with India.