Trump Rushes to Reassure After UK-US Trade Deal Sparks Market Jitters

Just weeks after global markets reeled from sweeping US tariffs, President Trump and UK Prime Minister Keir Starmer have announced a landmark trade deal aimed at restoring stability and protecting jobs. The pact, Trump’s first since his April “Liberation Day” tariffs, slashes US duties on British car exports from 27.5% to 10% (capped at 100,000 vehicles) and eliminates steel and aluminium tariffs-moves hailed by Starmer as “historic” and vital for UK industry. In return, the UK will ease barriers on US goods like ethanol, beef, and machinery, and grant American firms greater digital and pharma market access.

 

Despite the breakthrough, Trump faces pressure to clarify lingering details and address the 10% baseline tariff that still covers most UK goods. The agreement-while celebrated as a diplomatic win-remains partial, with both leaders promising further negotiations to expand its scope.

 

Source: Sky News, Yahoo Finance, Al Jazeera