0550 GMT - The new U.K.-U.S. trade deal is "great news" for the U.K. automotive industry, according to British industry body the Society of Motor Manufacturers and Traders. The deal sees tariffs on car imports drop to10% from 25% for the first 100,000 cars into the U.S., confirming a pact initially agreed upon last month. SMMT Chief Executive Mike Hawes says the deal will help the sector avoid the severest level of tariffs, enabling many manufacturers to resume deliveries imminently. "We wait to see the full details of the deal and how it will be administered but this will be a huge reassurance to those that work in the sector and bolster the confidence of our important U.S. customers." (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

June 17, 2025 01:50 ET (05:50 GMT)

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