Britain spent months buttering up Donald Trump, keeping calm in the face of the US president’s tariff-led assault on global trade before deciding late on Wednesday to drop its demands for a comprehensive deal and take a quick but limited win instead.

Britain had been in talks with Trump’s administration for months in a bid to avoid, and then to lower, the 10% US baseline tariffs it faced on all goods — and the 25% levies that were imposed on cars and steel...

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