The United States is preparing its terms for trade talks with the United Kingdom, according to people familiar with the plans, aiming for London to reduce levies and other non-tariff barriers on a wide range of US goods.
The US President Donald Trump administration will aim for the UK to reduce its automotive tariff from 10% to 2.5%, according to people with knowledge of a draft document the Trump administration circulated to stakeholders this week outlining goals for trade talks with the U.K.
Additionally, Washington will also push the UK to relax rules on agricultural imports from the US, including beef, and revise rules of origin for goods from each nation.
Market reaction
At the press time, the GBP/USD pair was down 0.44% on the day to trade at 1.3270.
