ICYMI: US-UK trade talks make some progress on steel, autos, but deal timing still unclear | Forexlive

News from Tuesday, US time, ICYMI:

Trade negotiations between the United States and the United Kingdom are moving forward, with progress reported on reducing tariff quotas for steel and automobiles. However, uncertainty remains over when a final agreement will be reached.

Conflicting signals from President Trump and Treasury Secretary Scott Bessent have clouded the outlook. While Bessent recently expressed optimism, Trump has suggested that finalising the deal could still take several weeks.

UK officials have described the talks as constructive but have stopped short of offering a timeline. The discussions also include contentious issues such as Britain’s digital services tax and U.S. access to the UK’s agricultural market. For now, the UK is holding firm on its food safety standards, limiting U.S. meat imports.

The pressure to secure agreements is mounting as a 90-day pause on retaliatory tariffs is set to expire in early July.