Trump and Starmer Announce ‘Breakthrough’ US-UK Trade Deal, Slashing Tariffs and Boosting Market Access

In a landmark announcement, US President Donald Trump and UK Prime Minister Keir Starmer have signed a joint communiqué on an "historic breakthrough" trade deal-the first of its kind in over a month since global tariffs were recently added. Revealed in simultaneous media briefings held in Washington and London, the agreement will cause the UK to lower tariffs imposed on US commodities from 5.1% to 1.8% and open further markets to US exports, particularly in manufacturing and agriculture. As a quid pro quo, the US will cut tariffs on UK car exports immediately from 27.5% to 10% and lift steel and aluminum tariffs, boosting British business massively. Both leaders called the deal historic, citing fairness and reciprocity. While some US tariffs will remain in place, the agreement is set to generate billions of new trade and jobs, with the finishing negotiations to be completed in a matter of weeks

 

Source: Reuters, Bloomberg, Al Jazeera