Ford (NYSE: F), and Stellantis (NYSE: STLA) has voiced criticism over President Donald Trump's latest trade agreement with the United Kingdom. The group fears the deal could harm the U.S. auto industry.

Under this deal, it will now be cheaper to import a UK vehicle with very little U.S. content than a USMCA compliant vehicle from Mexico or Canada that is half American parts.'

British carmakers will be given a quota of 100,000 cars a year that can be sent to the United States at a 10% tariff rate, almost the total Britain exported last year, compared to 25% for Mexico and Canada and nearly all other countries.