Trump Announces U.S.-U.K. Trade Deal, Calls It a ‘Great Deal for Both Countries’
President Trump touted the outlines of a new trade agreement with Britain on Thursday — the first deal announced since the U.S. announced steep tariffs on nearly every major U.S. trading partner.
Trump said the agreement would open up billions in market access for American exports like beef and ethanol, while also fast-tracking customs clearance and eliminating non-tariff barriers. The deal includes U.S. tariffs on U.K. cars being cut to 10% and U.K. tariffs on U.S. beef cut to zero. More details are expected in the coming days.
WHAT’S NEXT
While the deal has not yet been signed and still requires finalization, both countries are promoting it as a major step forward in their economic partnership.
Calling it “a great deal for both countries,” Trump spoke with the U.K. Prime Minister Keir Starmer by phone from the Oval Office, who noted the timing was symbolic, falling on the 80th anniversary of the Allied victory in Europe during World War II.
Trade expert, Timothy Brightbill, told the New York Times that this is “an agreement to start the negotiations.”
It comes as Treasury Secretary Scott Bessent will meet with Chinese officials this weekend in Switzerland for discussions aimed at cooling trade tensions. The talks in Switzerland will focus on de-escalation rather than a sweeping trade deal. In April, Trump put a 145% tariff on Chinese goods coming to the U.S. and China responded with 125% tariffs.
“We don’t want to decouple — what we want is fair trade,” Bessent said on Fox News Tuesday.
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