US-US trade deal delivers win for aerospace manufacturers

LONDON - The UK-US trade deal has come into force Monday, slashing US export tariffs for the key UK industries. Aerospace goods will clear US customs without any levies again - with immediate effect. A deal between the US and the EU about future trade remains pending but could copy elements of the UK blueprint.

The US reduces tariffs on UK goods as a new trade deal went into effect Monday. 

"The UK is the only country to have secured this deal with the US, reducing car export tariffs from 27.5 percent to 10 percent," the UK Government said.

At the same time, the aerospace sector has seen the removal of 10 percennt tariffs on goods such as engines and aircraft parts, "helping make companies such as Rolls Royce more competitive".

A trade deal between the US and EU remains pending. According to media reports, the EU Commission suggested to honor the 10 percent base tariff on EU exports to the US, if Washington agrees to waive tariffs on key industries like pharma and aerospace.