The trade protocol for the U.S. to drop tariffs on automotive and aircraft parts from the U.K. is in effect.

[The trade protocol for the U.S. drop of tariffs on British automotive and aircraft parts takes effect] The British government announced on Monday that the trade protocol signed by U.S. President Trump and British Prime Minister Starmer, which lowers tariffs on certain imported goods from the UK, has now taken effect. The statement reiterated details announced earlier in June, stating that British car manufacturers can now export cars to the U.S. under a 10% tariff quota, down from a previous tariff of 27.5%, and that the current 10% tariff imposed by the U.S. on goods such as British aircraft engines and parts has been completely eliminated. However, the issue of steel and aluminum tariffs remains unresolved. The UK avoided the high steel and aluminum tariffs of up to 50% imposed by the U.S. on other countries earlier this month, but may face higher tariffs starting July 9 unless an agreement is reached. The UK added in the statement, "We will continue to move forward and make progress on imposing a 0% tariff on core steel products as per the protocol."