U.K. exports to the U.S. fell by highest figure on record in April, which the national statistics office attributed to Washington's tariff policies. The U.S. returned to a trade surplus in goods with the U.

New trade quotas for British autos and American beef and ethanol will take effect in the "coming days," Commerce Secretary Howard Lutnick said in a post on X, as the U.K. and U.S. push to implement [t

Friday phone call between President Trump and Chinese President Xi Jinping leads to another round of trade meetings in the U.K.

Global markets are having a mixed reaction to news that U.S. and Chinese officials reached a tentative consensus on trade after a second day of talks in London. The negotiators will now seek approval on the framework from the U.S. and Chinese presidents.

Chinese exports of rare earth minerals, which are vital to carmakers and other industries, and China's access to high-end technology from the U.S., including computer chips, are high on the agenda.

Under the agreement, the U.S. pledged to lower a 27.5% tariff on U.K. car exports to 10% for the first 100,000 vehicles per year. It also committed to removing 25% tariffs on U.K. steel and aluminum shipments. However, none of these reductions have yet taken effect.

U.S. and Chinese delegations convened in London for high-stakes trade talks to resolve ongoing disputes, focusing on rare earth exports and broader trade compliance.