The US has agreed to reduce import taxes on a set number of British cars and allow some steel and aluminium into the country tariff-free, as part of a new agreement between the US and UK.

The announcement offers relief for key UK industries from some of the new tariffs President Donald Trump has announced since his return to the White House in January.

But it will leave a 10% duty in place on most goods from the UK.

Though hailed by the leaders of the two countries as significant, analysts said it did not appear to meaningfully alter the terms of trade between the countries, as they stood before the changes introduced by Trump this year.

No formal deal was signed on Thursday, and the announcements from both governments were light on details.

Speaking from a Jaguar Land Rover factory in the West Midlands, Sir Keir Starmer described the agreement as a "fantastic platform".

"This historic deal delivers for British business and British workers, protecting thousands of British jobs in key sectors including car manufacturing and steel," he said, adding that "the UK has no greater ally than the United States".

At the White House, Trump called it a "great deal" and pushed back against criticism that he was overstating its importance.

"This is a maxed-out deal that we're going to make bigger," he said.