U.S. President Donald Trump and U.K. Prime Minister Keir Starmer have signed a deal removing some trade barriers between the two countries, bringing into force parts of an agreement made in May. The deal reduces tariffs on U.K. cars being shipped to the U.S., but keeps a 10% tariff on most U.K. goods, and has not addressed the expected removal of charges on steel imports, currently set at 25%.

The deal on U.S.-U.K. tariffs will come into effect seven days following its official publication.

Speaking at the G7 summit in Canada, Sir Keir called the move a "very important day" for both countries. The pact is the first the White House announced since it imposed wide-ranging tariffs on various goods entering America in an attempt to rebalance its trade deficits with the rest of the world. The U.K., which relies on the U.S. as a major importer of its cars and steel, has been seen as achieving a somewhat favorable deal, although a large swathe of tariffs remains uncertain.

BBC News reports that, in the order Trump signed on June 16, the U.S. said it would allow up to 100,000 U.K.-made cars into the U.S. at a 10% tariff, instead of the 25% import tax imposed on all car imports earlier this year, as agreed under the terms outlined in May.

The order said the U.S. would set up a similar system for steel and aluminum, but did not specify what it would be.

The BBC report went on to say that the U.S. agreement is much more limited than the full-fat trade deal that has long been discussed on Downing Street. The scope of what was signed on June 16 also appeared more restricted than the general terms of the deal as outlined last month.

Trump has previously declared the pact on tariffs is a "major trade deal," but it is not. The U.S. president does not have the authority to sign free-trade agreements without the approval of Congress.