5 hours ago
Last Updated:May 08, 2025, 21:14 IST
US-UK Trade Deal: Both countries unveiled a new trade agreement on Thursday, easing the impact of President Donald Trump's sweeping tariffs
President Donald Trump with British Prime Minister Keir Starmer, left, at the White House, Thursday, Feb. 27, 2025, in Washington. (AP/PTI)
The United States and the United Kingdom unveiled a new trade agreement on Thursday, easing the impact of President Donald Trump’s sweeping tariffs and marking a key political win for British Prime Minister Keir Starmer.
“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. As part of this Deal, America will raise $6 BILLION DOLLARS in External Revenue from 10% Tariffs, $5 BILLION DOLLARS in new Export Opportunities for our Great Ranchers, Farmers, and Producers, and enhance the Security of both the US 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. Many more to come — STAY TUNED!" he wrote on Truth Social.
This marks the first bilateral trade pact announced by the US since Trump began imposing tariffs on key trading partners. While the deal is being touted by Trump as a major breakthrough, he acknowledged that some “final details" are still being worked out, indicating ongoing negotiations behind the scenes.
“The final details are being finalized," Trump said from the Oval Office. “We’ll have everything wrapped up very conclusively in the coming weeks."
Trade agreements are typically intricate and often take considerable time to complete. However, Trump has been pushing aggressively to secure deals quickly, aiming to deliver on the promises he made when launching his tariff campaign last month.
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Location : First Published:News business Trump Strikes Landmark UK Trade Deal, First Since Tariff Measures
