BANFF, AB – President Donald Trump and Prime Minister Keir Starmer announced on Monday that they would sign a trade agreement reducing tariffs on goods exchanged between their nations.

While the deal addresses various tariffs, it notably excludes those on steel, which remains a critical area of trade between the countries. Discussions are ongoing to determine if steel tariffs will be completely eliminated, as initially outlined in the provisional terms.

In May, Trump and Starmer revealed they had reached an agreement to reduce U.S. import duties on British automobiles, steel, and aluminum in exchange for improved access for American products, such as beef and ethanol, to the UK market.

But it did not immediately take effect, leaving British businesses uncertain about whether the U.K. could be exposed to any surprise hikes from Trump.

British businesses, and the U.K. government, were blindsided earlier this month when Trump doubled metals tariffs on countries around the world to 50%. He later clarified the level would remain at 25% for the U.K.

Starmer said Monday that the trade agreement is “in the final stages now of implementation, and I expect that to be completed very soon.”

Trump said the deal is “gonna produce a lot of jobs, a lot of income.”