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“We have achieved a groundbreaking trade deal with the UK - our closest ally,” he stated on the Truth Social platform.
Trump stressed that this is the inaugural US agreement of its kind since he enacted extra tariffs on several trading partners in April.
Simultaneously, the US president stressed that the agreement does not allow for a total elimination of tariffs on British products. “Under this agreement, the US will gain $6 billion from 10% in duty revenues. We will also acquire new commercial opportunities for our agricultural producers and manufacturers of other products. It will result in $5 billion for us,” he clarified.
Trump stated that the parties consented to establish “a trading area for aluminum and steel, along with forming a secure system for supplying pharmaceutical goods.”
Meanwhile, U.S. Secretary of Commerce Howard Lutnick informed reporters at the White House that under the agreement, the U.S. agreed to ease tariffs on British automobiles.
source: ft.com
Trump stressed that this is the inaugural US agreement of its kind since he enacted extra tariffs on several trading partners in April.
Simultaneously, the US president stressed that the agreement does not allow for a total elimination of tariffs on British products. “Under this agreement, the US will gain $6 billion from 10% in duty revenues. We will also acquire new commercial opportunities for our agricultural producers and manufacturers of other products. It will result in $5 billion for us,” he clarified.
Trump stated that the parties consented to establish “a trading area for aluminum and steel, along with forming a secure system for supplying pharmaceutical goods.”
Meanwhile, U.S. Secretary of Commerce Howard Lutnick informed reporters at the White House that under the agreement, the U.S. agreed to ease tariffs on British automobiles.
source: ft.com