Minister for Trade (Sir ): The UK and US met virtually
to continue talks on the UK-US Economic Prosperity Deal (EPD)
during November 2025. Discussions included areas across the scope
of the EPD set out in the 8th May General Terms,
including tariffs and non-tariff barriers, digital and services.
Constructive talks continued on US section 232 investigations,
including pharmaceuticals and heavy trucks.
Thanks to the EPD, the UK remains the only country in the world
to benefit from a preferential 25% rate on steel, aluminium and
derivative exports to the US, a special 10% tariff on cars, as
well as receiving 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%.
The UK and US will continue negotiations across the range of
issues outlined in the General Terms for the EPD.
The US is the UK's largest single country trading partner with a
trading relationship worth some £331 billion in the 12 months to
June 2025. UK firms employ some 1.2 million US workers whilst 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.
