The United States and the United Kingdom on Thursday announced a new trade deal, marking the first agreement under President Donald Trump’s sweeping tariffs imposed on nearly all of America’s trading partners in April.
President Trump previewed the deal in posts on Truth Social and was joined by UK Prime Minister Keir Starmer via phone during the formal announcement in the Oval Office.
“Today is an incredible day for America as we deliver our first Fair, Open, and Reciprocal Trade Deal — something our past Presidents never cared about. Together with our strong ally, the United Kingdom, we have reached the first historic Trade Deal since Liberation Day,” Trump said in a post on Truth Social, referring to April 2, the day the new tariffs were announced.
“They are opening up the country,” he said during the Oval Office event. “Their country is a little closed, and we appreciate that. They’ll also be fast-tracking American goods through their customs process, so our exports will receive very, very quick approval, and there won’t be any red tape. Things are going to move very quickly both ways.”
Although details of the deal are still being finalized, President Trump revealed some highlights in his social media post:
“As part of this deal, America will raise $6 BILLION in external revenue from 10% tariffs, $5 BILLION in new export opportunities for our great ranchers, farmers, and producers, and enhance the national security of both the U.S. and the UK through the creation of an aluminum and steel trading zone, and a secure pharmaceutical supply chain. This deal shows that if you respect America and bring serious proposals to the table, America is OPEN FOR BUSINESS.”
Joining the call, Prime Minister Starmer said, “This is a really fantastic, historic day on which we can announce this deal between our two great countries. And I think it’s a real tribute to the history that we have of working so closely together.”
The U.S. is also in ongoing trade negotiations with several other countries, including India. American officials have expressed confidence in finalizing a deal with India soon, with some suggesting it could be the next in line.
Meanwhile, U.S. officials are set to hold their first trade talks with America’s largest trading partner, China, on Saturday in Switzerland.- IANS
