The Minister of State, Department for Business and Trade (Chris Bryant)
The UK and US have met to continue talks on the UK-US economic prosperity deal in London, Washington DC and virtually during August and September 2025.
The UK has continued to engage across the range of issues outlined in the general terms for the UK-US economic prosperity deal agreed in May. This has included discussions on digital and technology, tariff and non-tariff barriers, as well as on the US tariffs levied on products subject to section 232 investigations.
During the state visit of the President of the United States, the UK and US announced the technology prosperity deal that builds on the EPD. The first ever UK-US tech agreement is focused on developing the fastest growing technologies like AI, quantum, and nuclear. The deal will bring new healthcare breakthroughs, clean home-grown energy, and more investment into local communities and businesses in Britain and the United States.
Last month, the United States confirmed that the UK will not face an increase in steel and aluminium tariffs to 50% and will remain the only country in the world to benefit from a preferential 25% rate on steel, aluminium and derivative exports to the US, thanks to the EPD. This provides the certainty that UK industry has long been calling for. We continue to work closely with our US counterparts to reduce tariffs further and secure the best possible outcomes for UK manufacturers.
Also as a result of the EPD, the UK has received preferential treatment for lumber products, with the lowest tariff rate of any country in the world at 10%. Other countries face tariffs of up to 50%.
Intensive discussions are continuing on other sectors under section 232 investigation, including pharmaceuticals and semiconductors, towards the significantly preferential outcome provided for under the general terms.
The US is the UK’s largest single country trading partner with a trading relationship worth some £315 billion last year. UK firms employ some 1.2 million US workers while 1.4 million people work here in the UK for American companies. We have £1.2 trillion invested in each other’s economies. The EPD will continue to deliver on saving thousands of jobs, protecting key British industries, and helping to drive economic growth.
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