LONDON (Feb 24): British trade minister Peter Kyle said he was confident the trade deal Britain struck last year with the United States would still stand despite US President Donald Trump's latest move to apply a 10% global import tariff. The United States began collecting the temporary new 10% tariff on Tuesday but the Trump administration was working to increase it to 15%, sowing confusion over US tariff policies in the wake of last week's Supreme Court defeat. But Kyle said he was confident following engagement with the US administration in recent days that a deal reached between the two countries last year would still stand. "It was the best deal and it remains the best deal, and the fundamental terms that we had negotiated with the United States remain in place," Kyle told a parliamentary committee. Last year, Britain negotiated an 'Economic Prosperity Deal' that applied a basic 10% tariff, and preferential terms across a range of industries, including cars, planes and agriculture.

Source: The Edge Markets February 24, 2026 17:22 UTC