US President Donald Trump has announced a trade agreement with the United Kingdom, greeting it as a “advance” that will eliminate barriers and expand market access to US imports.
“I am very happy to announce that we have reached an innovative trade agreement with the UK,” Trump said on Thursday at the Oval Hall.
Trump said the full pact details would still be negotiated in the coming weeks. But according to the agreement, the United Kingdom would accelerate the customs process of American products and reduce barriers to agricultural, chemical, energy and industrial exports.
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“The deal includes billions of dollars in higher market access to US exports, especially in agriculture, dramatically increasing access to American beef, ethanol and virtually all products produced by our large farmers,” said Trump.
The announcement is the first made by Trump from the imposition of high tariffs to dozens of US business partners. Subsequently, the president temporarily suspended these rates to allow the nations to reach agreements with the US.
“This will boost trade between our countries and between them, not only will protect jobs, but will also create them, opening access to the market,” said UK Prime Minister Keir Stmerer.
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Stamer said a new trade agreement with the United States will boost trade and create jobs, adding that the time could not be better.
“A really important deal. This will boost trade between our countries. It will not only protect jobs, but will also create jobs, opening access to the market,” Starmer said by telephone to US President Donald Trump at a Washington event where the agreement was announced. “The moment could not be more appropriate,” said Stmerer.
The British pact can provide clues about the shape of potential future agreements with other economies. The agreement has limited scope and maintains a basic rate of 10%, according to people familiar with the matter, who spoke on condition of anonymity to discuss the terms.
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With research showing Americans unhappy with their economic management, Thursday’s agreement is a sign that Trump is looking for a way out of his plan to increase American tariffs to the highest level in a century. Trump has been trying to press other countries to reach quick agreements with the US amid 90 -day suspension. UK tariffs were originally fixed at 10%, which means that the country did not benefit directly from this temporary flexibility.
The president is also in a stalemate with China, the third largest US commercial partner, which he imposed 145%rates. Treasury Secretary Scott Bessent and US commercial representative Jamieson Greer are starting formal conversations this week with his Chinese counterpart, but Trump has ruled out his tariffs to accelerate an agreement.
“Comprehensive”
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Earlier, US President Donald Trump had announced an event on his social networks. “It is an honor that the United Kingdom is the first. Many others are coming,” said the Republican on social networks. He pointed out that agreement is comprehensive and complete and will strengthen the relationship of both countries for years.
“For our long history and covenant, it is an honor that the United Kingdom is our first announcement. Many other agreements, which are in serious trading stages, are coming!” He wrote, adding that this is a “big and animator day” for both countries.
(with Bloomberg, Reuters and Estadão Content)
