The US and the UK are expected to announce a trade agreement on May 8, aimed at reducing tariffs on certain goods.

This would be the first such deal since US President Donald Trump implemented global tariffs during his administration.

A spokesperson for the British government confirmed that Prime Minister Keir Starmer will provide an update on trade discussions later today.

Sources indicate that the agreement will focus on tariff quotas for steel and automobiles, which currently face a 25% US tariff.

In return, the UK is anticipated to lower tariffs on US vehicles and reduce its digital services tax, which impacts US-based technology companies..source-ref{font-size:0.85em;color:#666;display:block;margin-top:1em;}a.ask-tia-citation-link:hover{color:#11628d !important;background:#e9f6f5 !important;border-color:#11628d !important;text-decoration:none !important;}@media only screen and (min-width:768px){a.ask-tia-citation-link{font-size:11px !important;}}

🔗 Source: Reuters

🧠 Food for thought

1️⃣ Regional economic inequalities face amplification from tariff impacts

US tariffs would hit British regions quite differently, with manufacturing-dependent areas bearing a disproportionate burden of economic pain.