British Airways owner IAG buys 32 new Boeing planes from US amid trade deal
International Airlines Group (IAG) confirmed the order of the Boeing 787-10 aircraft for its BA fleet, alongside 21 Airbus planes for its other airlines on Friday morning.
The US and the UK said they had struck what Sir Keir Starmer called a 'historic' deal on Thursday, which saw American import taxes on British goods like cars and steel either slashed or removed completely.
US commerce secretary Howard Lutnick said on Thursday that plane engines and other aeroplane parts would also be excluded from trade tariffs as part of the trade deal.
'We've agreed to let Rolls Royce engines and those kind of plane parts come over tariff-free,' he said.
He told reporters that an unnamed British airline had agreed to buy 10 billion US dollars (£7.56 billion) of Boeing planes as the trade deal was agreed.
IAG did not confirm how much it had paid for the planes in its Friday announcement.
Chief executive Luis Gallego said the order was a 'milestone' for the conglomerate and would 'strengthen our core markets' over the next decade.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leader Live
34 minutes ago
- Leader Live
UK appears to have been spared immediate hit of Trump's 50% steel tariffs
The US President has decided to 'provide different treatment' to the UK after a deal that was struck between Washington and London last month. Levies will remain at 25% for imports from the UK, however Britain could still be subject to the higher 50% rate from July, according to a version of the order confirming the tariff increase posted by a White House X account on Tuesday. According to the text of the order, Mr Trump has 'further determined that it is necessary and appropriate to allow for the implementation of the U.S.-UK Economic Prosperity Deal of May 8, 2025 (EPD), and to accordingly provide different treatment, as described below, for imports of steel and aluminum articles, and their derivatives, from the United Kingdom'. 🚨 @POTUS just signed the order raising tariffs on steel and aluminum imports to 50%. Here is the text of the order: 1. On January 11, 2018, the Secretary of Commerce (Secretary) transmitted to me a report on the Secretary's investigation into the effect of imports of steel… — Rapid Response 47 (@RapidResponse47) June 3, 2025 The order later says that rates will for now stay at 25% and adds: 'On or after July 9, 2025, the Secretary may adjust the applicable rates of duty and construct import quotas for steel and aluminum consistent with the terms of the EPD, or he may increase the applicable rates of duty to 50 percent if he determines that the United Kingdom has not complied with relevant aspects of the EPD'. The 50% tariff rate more widely is due to come into force from 12.01am Washington DC time on Wednesday, which is shortly after 5am in the UK. A Government spokesperson said: 'The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors, including steel as part of our plan for change. 'We're pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs. 'We will continue to work with the US to implement our agreement, which will see the 25% US tariffs on steel removed.' Prime Minister Sir Keir Starmer's trade deal with the US, struck last month, included relief on the steel and aluminium tariffs, but the implementation has not yet been finalised. Business Secretary Jonathan Reynolds met White House trade representative Jamieson Greer in Paris on Tuesday. According to the Department for Business and Trade, Mr Reynolds and Mr Greer discussed a desire to implement the deal struck between London and Washington as soon as possible, and committed to working closely to make it happen. The general terms for the agreement between the UK and US were published in May when the deal was announced, and outline the intended plans. White House press secretary Karoline Leavitt was asked if there was a text of the full deal ready to be released, and told reporters on Tuesday: 'There 's most definitely text with this deal, there is language that this side has seen. 'You'll have to ask the UK Parliament why they haven't seen it from their own Government, I obviously can't answer that question.'
North Wales Chronicle
41 minutes ago
- North Wales Chronicle
UK appears to have been spared immediate hit of Trump's 50% steel tariffs
The US President has decided to 'provide different treatment' to the UK after a deal that was struck between Washington and London last month. Levies will remain at 25% for imports from the UK, however Britain could still be subject to the higher 50% rate from July, according to a version of the order confirming the tariff increase posted by a White House X account on Tuesday. According to the text of the order, Mr Trump has 'further determined that it is necessary and appropriate to allow for the implementation of the U.S.-UK Economic Prosperity Deal of May 8, 2025 (EPD), and to accordingly provide different treatment, as described below, for imports of steel and aluminum articles, and their derivatives, from the United Kingdom'. 🚨 @POTUS just signed the order raising tariffs on steel and aluminum imports to 50%. Here is the text of the order: 1. On January 11, 2018, the Secretary of Commerce (Secretary) transmitted to me a report on the Secretary's investigation into the effect of imports of steel… — Rapid Response 47 (@RapidResponse47) June 3, 2025 The order later says that rates will for now stay at 25% and adds: 'On or after July 9, 2025, the Secretary may adjust the applicable rates of duty and construct import quotas for steel and aluminum consistent with the terms of the EPD, or he may increase the applicable rates of duty to 50 percent if he determines that the United Kingdom has not complied with relevant aspects of the EPD'. The 50% tariff rate more widely is due to come into force from 12.01am Washington DC time on Wednesday, which is shortly after 5am in the UK. A Government spokesperson said: 'The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors, including steel as part of our plan for change. 'We're pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs. 'We will continue to work with the US to implement our agreement, which will see the 25% US tariffs on steel removed.' Prime Minister Sir Keir Starmer's trade deal with the US, struck last month, included relief on the steel and aluminium tariffs, but the implementation has not yet been finalised. Business Secretary Jonathan Reynolds met White House trade representative Jamieson Greer in Paris on Tuesday. According to the Department for Business and Trade, Mr Reynolds and Mr Greer discussed a desire to implement the deal struck between London and Washington as soon as possible, and committed to working closely to make it happen. The general terms for the agreement between the UK and US were published in May when the deal was announced, and outline the intended plans. White House press secretary Karoline Leavitt was asked if there was a text of the full deal ready to be released, and told reporters on Tuesday: 'There 's most definitely text with this deal, there is language that this side has seen. 'You'll have to ask the UK Parliament why they haven't seen it from their own Government, I obviously can't answer that question.'
Glasgow Times
42 minutes ago
- Glasgow Times
UK appears to have been spared immediate hit of Trump's 50% steel tariffs
The US President has decided to 'provide different treatment' to the UK after a deal that was struck between Washington and London last month. Levies will remain at 25% for imports from the UK, however Britain could still be subject to the higher 50% rate from July, according to a version of the order confirming the tariff increase posted by a White House X account on Tuesday. According to the text of the order, Mr Trump has 'further determined that it is necessary and appropriate to allow for the implementation of the U.S.-UK Economic Prosperity Deal of May 8, 2025 (EPD), and to accordingly provide different treatment, as described below, for imports of steel and aluminum articles, and their derivatives, from the United Kingdom'. 🚨 @POTUS just signed the order raising tariffs on steel and aluminum imports to 50%. Here is the text of the order: 1. On January 11, 2018, the Secretary of Commerce (Secretary) transmitted to me a report on the Secretary's investigation into the effect of imports of steel… — Rapid Response 47 (@RapidResponse47) June 3, 2025 The order later says that rates will for now stay at 25% and adds: 'On or after July 9, 2025, the Secretary may adjust the applicable rates of duty and construct import quotas for steel and aluminum consistent with the terms of the EPD, or he may increase the applicable rates of duty to 50 percent if he determines that the United Kingdom has not complied with relevant aspects of the EPD'. The 50% tariff rate more widely is due to come into force from 12.01am Washington DC time on Wednesday, which is shortly after 5am in the UK. A Government spokesperson said: 'The UK was the first country to secure a trade deal with the US earlier this month and we remain committed to protecting British business and jobs across key sectors, including steel as part of our plan for change. 'We're pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs. 'We will continue to work with the US to implement our agreement, which will see the 25% US tariffs on steel removed.' Prime Minister Sir Keir Starmer's trade deal with the US, struck last month, included relief on the steel and aluminium tariffs, but the implementation has not yet been finalised. Business Secretary Jonathan Reynolds met White House trade representative Jamieson Greer in Paris on Tuesday. According to the Department for Business and Trade, Mr Reynolds and Mr Greer discussed a desire to implement the deal struck between London and Washington as soon as possible, and committed to working closely to make it happen. The general terms for the agreement between the UK and US were published in May when the deal was announced, and outline the intended plans. White House press secretary Karoline Leavitt was asked if there was a text of the full deal ready to be released, and told reporters on Tuesday: 'There 's most definitely text with this deal, there is language that this side has seen. 'You'll have to ask the UK Parliament why they haven't seen it from their own Government, I obviously can't answer that question.'
