Trump: The American agreement will enhance luxury car makers in the United Kingdom
On Thursday, President Trump described how the trade agreement with the United Kingdom will benefit the British automobile industry, especially luxury brands such as Rolls -Royce and Bentley.
As part of a commercial deal announced in the Oval Office, the United States agreed to reduce the customs tariffs on British car imports from 25 percent to 10 percent.
“We took it from 25 to 10 on Rolls -Royce, because Rolls -Royce will not be built here. I will not ask them to do so,” Trump said. “It is a very private car, and it is also a very limited number. It is not one of the brutal car companies that make millions of cars. It makes a very small number of super luxury cars, which includes Bentley and Jaguar.”
The Minister of Trade, Howard Lottenic, told reporters that the UK is sending nearly 100,000 cars to the United States annually, a small percentage of the total number of cars imported by the country.
“But for the UK car personnel, this is tens of thousands of jobs that the president agreed to protect them,” said Lootnick.
Trump and British officials announced on Thursday a commercial agreement that is still being completed, but both sides promote as beneficial to the economies of each of them.
Trump said that it includes billions of dollars in increasing access to markets for American exports, especially in agriculture by increasing access to American beef, ethanol and other agricultural products. He also said that the United Kingdom will reduce the non -carrier barriers against American products, and the UK will quickly evaluate American goods through the customs process.
The car industry was at the Trump tariff policies center in recent months, as it imposed a comprehensive tariff on all imports, in addition to targeted duties on steel, aluminum and cars.
Last week, Trump signed an order to expand the range of definitions he announced by 25 percent announced on imported cars and auto parts.
The administration will also allow car manufacturers to apply to obtain a 15 percent price displacement in the first year of customs tariffs and a 10 percent displacement in the second year in an attempt to carry companies to increase the local production of cars.
