04:21 PM EDT, 06/16/2025 (MT Newswires) -- UK Prime Minister Keir Starmer is expected to finalize an agreement with US President Donald Trump to implement a trade deal that would lower US tariffs on key British exports and expand UK quotas on certain American agricultural products, Bloomberg reported Monday, citing sources.

The two leaders are scheduled to meet at the G7 summit in Canada to finalize the agreement, the report said.

Under the framework announced last month, the US would reduce tariffs on UK car imports to 10% from 27.5% for the first 100,000 vehicles annually and eliminate levies on British steel. In return, the UK would increase tariff-free quotas on US beef and ethanol, according to the news outlet.

The UK government didn't immediately respond to a request for a comment from MT Newswires.

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