UK hoping for US tariff relief in days after deadline slips

The U.K. government has delayed the timeline for gaining exemptions from U.S. tariffs on British steel and cars, pushing it later into the week. 

Trade Secretary Jonathan Reynolds previously said he would issue a written statement to members of parliament and table legislation on market access for U.S. beef and ethanol as soon as Monday. 

British officials now hope Reynolds will update parliament on Tuesday. 

Prime Minister Keir Starmer told journalists en route to the G7 summit in Canada that the two sides had “shaken on the deal and we’re at the implementing stage now, which doesn’t actually require another shake of the hand.” He added that “there will be many shakes of the hand.” 

Rising tensions between Israel and Iran, and the conflict in Ukraine are set to overshadow discussions about U.S. President Donald Trump’s trade war at the June 15-17 G7 summit, with oil prices spiking and stoking fears of a deepening conflict that could further fuel global inflation. 

Stopping the conflict in Ukraine from spiraling further, along with efforts to find a negotiated solution to end Russia’s invasion, are now expected to dominate the conversation, an EU diplomat told POLITICO. 

Starmer is currently in Canada alongside Trump for the G7 summit, opening the door to potential movement on the stalled U.S.-U.K. trade deal.