Trump proclaims a comprehensive trade transaction with the United Kingdom, although it is likely to be below the Free Trade Agreement
From the United States and the United Kingdom on Thursday, the trade transaction, which will reduce the burden on President Donald Trumpsweeping tariffsAnd to give the Prime Minister Keir Starmer's political victory.
Trump posted on the social platform that the transaction announced at 10.00 am (1400 GMT) is “complete and thorough, cementing the relations between the United States and the United Kingdom for many years.”
This is the first two -sided trade transaction announced after Trump began to end tariffs for US trade partners. He said, “Many other transactions that are in a serious negotiation phase to follow!”
The Starmer's office said the Prime Minister will later give a “update” on US trade talks on Thursday.
“As you know, conversations with the US have continued and you will hear from me later.” Said Starmer at the London Defense Conference.
The agreement is likely to remain in the complete transaction of free trade, but will provide tariffs to certain sectors.
The President has set 10% taxes on British imports, as well as 25% tariffs for cars, steel and aluminum, provided that it would promote more factory jobs at home.
The main purpose of British negotiators has been to reduce or cancel the import tax of UK cars and steel. According to the State Statistics Bureau, the largest destination for British cars in the United States is more than a quarter of the export of cars in the United Kingdom in 2024.
Britain has also searched for the release of pharmaceutical tariffs, while the US wants more access to the British agricultural product market. The Starmer government has said that in the case of beef treated with American chicken or hormones, it does not reduce the UK's food standards.
The British Government sees this deal as a Starmer's justificationa softening approach to Trumpthat has avoided direct confrontation or criticism. Unlike the European Union did not report Britaindurable tariffsUS goods in response to Trump import duties.
The experience of trade with the United Kingdom would be symbolically important and a relief for British exporters. However, the agreement would do little to deal with Trump's main concern about the deficit of permanent trade, which prompted him to impose import duties to countries around the world.
The US had $ 11.9 billion in the United Kingdom last year in the United Kingdom, the Census Office said. The $ 68 billion goods that the US imported from the United Kingdom last year accounted for only 2% of the goods imported in all countries.
The US is much more important to the UK economy. According to government statistics, it was the largest trading partner in Britain, although most of the exports of Britain to the US are more than goods.
Trump has shown a desire to enter into a trade agreement with the United Kingdom after he voted to leave the European Union in 2016. But only on Tuesday, Trump did not show awareness of the possible conditions of the transaction when he was asked about this possibility.
“They offer us concessions?” Trump told reporters. “I hope … they want to do the deal very badly.”
Trump has previously said that his amplification in talks would be our consumers, but he seemed to suggest that the United Kingdom would also buy more American goods.
“I think the United Kingdom, like any other country, wants to … go buying in the United States,” he said.
The trade agreement with the US is one of the many that the Starmer government is trying to strike. On Tuesday,Britain and Indiaannounced trade after three years of negotiation. The United Kingdom is also trying to raise some of the EU when Britain left the block in 2020.
This story was originally reflected on Fortune.com
