Executive Order
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Implementing the General Terms of the United States of America-United Kingdom Economic Prosperity Deal
AI Summary:
This regulation is an executive order implementing the General Terms of the United States-United Kingdom Economic Prosperity Deal. The order establishes new trade provisions including a tariff-rate quota of 100,000 automobiles from the United Kingdom at a 10 percent tariff rate, removes certain tariffs on aerospace products from the United Kingdom, and provides for potential future tariff-rate quotas on aluminum and steel articles. The order aims to provide increased market access for American companies in British markets while addressing national security concerns. The regulation creates specific provisions for automotive imports, aerospace products, and potential future quotas for aluminum and steel, with the Secretary of Commerce given authority to implement detailed rules and modifications to the Harmonized Tariff Schedule as needed. The order is linked to previous national emergency declarations and trade proclamations, and includes standard legal provisions ensuring implementation is consistent with existing laws and does not create new legal rights.