Key details in the UK-US 'historic' trade deal

The UK and US have hailed a "fantastic, historic day" after striking a landmark trade deal.

In President Donald Trump's own words, this has been years in the making "but it got there with this prime minister". But while Sir Keir Starmer will be no doubt celebrating, the devil is in the detail.

Politics latest: Trump says UK-US trade deal is 'great honour' Here, Sky News looks at what has been announced. Not a full trade deal The first thing to note is that this isn't a free trade deal in the conventional sense, but one that focuses on specific sectors - notably cars, steel and agriculture.

It has led to the reduction in some, but not all, of the tariffs Mr Trump imposed on the UK as part of a sweeping package of global measures last month. This included a 10% levy on all UK exports and a higher charge on steel, aluminium and cars.

Tariff exemptions on cars and steel As a result of Thursday's deal, car export tariffs will be reduced from 27.5% to 10%, to match Mr Trump's baseline levy. The lower car rate applies to the first 100,000 vehicles exported from the UK to the US each year, which Downing Street said is almost the total the UK exported last year.

British carmakers were intensely worried about the impact of tariffs on their industry, so it is hoped the reduction will save thousands of jobs. Separately, the UK steel industry - on the brink of collapse just a few weeks ago - now won't face any tariffs after the US agreed to scrap the 25% rate for the UK.

A 10% levy remains on all other goods coming to the US from the UK, which will be the focus of the next stage of discussions, it is understood. At respective news conferences on Thursday, Sir Keir said the deal has resulted in "jobs saved, jobs won but not job done.