Daily SumUp

Donald Trump removes the 25% tariff on UK steel and aluminium, and immediately cuts the rate on most car exports from 27.5% to 10%

The lower car rate applies to the first 100,000 vehicles exported from the UK to the US each year - 101,000 were exported last year

In return, the UK government says it's removing the tariff on ethanol for US goods, and agrees "reciprocal market access on beef"