U.S. President Donald Trump and British Prime Minister Keir Starmer announced the conclusion of a trade agreement between the two countries following the tariffs imposed by the United States on most countries around the world.
“A Major Achievement”
Trump told reporters at a joint press conference, “We have achieved a major accomplishment by reaching a wonderful trade deal with Britain,” under which non-tariff barriers will be reduced. He stressed that reciprocity and fairness are a fundamental and vital principle for international trade.
Trump pointed out that the trade deal includes plans that will make Britain part of an economic security alliance with the United States, and that the agreement will bring the U.S. $6 billion in foreign revenue.
For his part, the British Prime Minister said that the agreement reached by the two countries is “great and in the interest of both peoples” and will boost trade and protect jobs.
Earlier, Trump posted on his Truth Social account that the agreement with Britain is “full and comprehensive and will cement the relationship between the United States and the United Kingdom for many years to come. Given our long history and shared loyalty, we are honored to have the United Kingdom as our first announcement. There are many other deals, which are in serious stages of negotiation, awaiting us!”
Keir Starmer considered the agreement great and in the interest of Britain and America (AFP).
Pressures
The United States has been under pressure from investors to conclude deals to ease the tariff war, after Trump’s often-chaotic policies upended global trade with both allies and adversaries, threatening to fuel inflation and cause an economic recession.
Senior U.S. officials have engaged in a series of meetings with trade partners since the president imposed a 10% tariff on most countries on April 2, in addition to higher tariff rates on many trading partners, which were subsequently suspended for 90 days.
The United States imposed a 25% tariff on cars, steel, and aluminum, and 25% on Canada and Mexico, and 145% on China. U.S. and Chinese officials are scheduled to hold talks in Switzerland next Saturday.
