Donald Trump and Sir Keir Starmer are expected to announce a trade deal between the US and the UK on Thursday.
A 10% blanket levy on imports to the US is expected to stay, but the UK could see cuts to the 25% tariffs on a number of exports.
Here the PA news agency looks at how much trade the UK has with the US, based on figures published by the Office for National Statistics.
– How much is exported to the US?
Last year, the UK exported £59 billion of goods to the US, which made up about 16% of all British exports during the period, according to the ONS.
Most of those are now subject to a minimum US import tax of 10%, after Mr Trump announced sweeping global tariffs in April.
Meanwhile, about £13 billion of those have an even higher tariff rate of 25%, mainly made up of nearly £10 billion-worth of exports from the car industry.
A further £3 billion of products containing steel and aluminium are also subject to the higher tariff rate.
Britain also exported £10.8 billion of chemicals to the US – about one-fifth of total chemicals exports – which were mostly made up of medicines and pharmaceutical products.
– Cars and metals could be significant
Car industry leaders have called for changes to the current system, with some suggestions calling for a quota system.
This would mean a certain amount of cars every year could be sold to the US under lower tariffs or even none at all.
But this could effectively cap the number of car exports every year, while a simpler lower tariff rate in general could be more effective.
Meanwhile, steel industry chiefs have already warned that the 25% tariff on metals could be ruinous for the UK sector, which was already struggling.
It was unclear on Thursday whether the trade agreement would include a lowering of these tariffs.
– What about imports?
Machinery and transport equipment continued to be the main goods imports from the US last year, with the UK importing £20.1 billion of machinery and transport equipment.
The UK also imported £15.3 billion-worth of fuel from the US last year, a nearly one-fifth decrease compared with 2023.
Crude oil was the main fuel import, at £8.7 billion.
And the UK imported £8 billion of chemicals last year, about 12% of all chemical imports.
About half of that was made up of medicines and pharmaceuticals, like vitamins, antibiotics and vaccines.
– What else is at stake?
Mr Trump has also repeatedly said he will slap tariffs on drug imports, which could make life-saving treatments more expensive for American consumers.
It would also bring significant extra costs for firms like AstraZeneca and GlaxoSmithKline (GSK), two of Britain’s biggest firms which sell huge amounts of goods in the US.
Meanwhile, the US president threatened earlier in May to impose a 100% tariff on “on any and all movies coming into our country that are produced in foreign lands”.
Blockbusters including the Harry Potter and James Bond franchises, as well as streaming shows like Game of Thrones are filmed in the UK.
The US plans “could deal a knock-out blow” to the UK film sector, the Broadcasting, Entertainment, Communications and Theatre Union (Bectu) warned on May 5.
Reports have previously suggested a deal could see the UK reduce some tariffs on American products, as well as changing the digital services tax that currently affects mainly US tech companies.
But the Government has ruled out lowering food standards to allow more US agricultural products into the country, or watering down the Online Safety Act, which some in America regard as placing restrictions on freedom of speech.
