US President Donald Trump unveiled a “breakthrough” trade agreement with Britain on Thursday, the first deal with any country since he launched his global tariffs blitz.
The deal reduces tariffs on British cars and lifts them on steel and aluminum, while in return Britain will open up markets to US beef and other farm products.
British Prime Minister Keir Starmer also hailed it as a “historic day”, although the agreement is thin on details and both sides said there would be more negotiations.
A 10 percent baseline tariff on Britain imposed by Trump as part of the sweeping worldwide “Liberation Day” levies he announced in April also remains in place.
Trump said the British deal would be the first of many, and that he hoped difficult talks with China and the European Union could soon produce results too.
“I’m thrilled to announce that we have reached a breakthrough trade deal with the United Kingdom,” Trump said as he spoke with Starmer by phone from the Oval Office.
“The deal includes billions of dollars of increased market access for American exports, especially in agriculture.”
The deal reduces tariffs on British cars and lifts them on steel and aluminum, while in return Britain will open up markets to US beef and other farm products.
British Prime Minister Keir Starmer also hailed it as a “historic day”, although the agreement is thin on details and both sides said there would be more negotiations.
A 10 percent baseline tariff on Britain imposed by Trump as part of the sweeping worldwide “Liberation Day” levies he announced in April also remains in place.
Trump said the British deal would be the first of many, and that he hoped difficult talks with China and the European Union could soon produce results too.
“I’m thrilled to announce that we have reached a breakthrough trade deal with the United Kingdom,” Trump said as he spoke with Starmer by phone from the Oval Office.
“The deal includes billions of dollars of increased market access for American exports, especially in agriculture.”
By AFP