New Trade Agreement Announced Between the US and UK

Trade Deal: On Thursday, President Donald Trump revealed a new trade deal with the United Kingdom, declaring this agreement as “the first of many.” British Prime Minister Keir Starmer participated in the announcement via a phone call.

What’s in the Agreement? While specific terms were not fully disclosed, Commerce Secretary Howard Lutnick mentioned that a 10% tariff on all imports from the UK remains intact. However, a lower tariff rate will apply to vehicles.

Ongoing Negotiations: Trump administration officials have been reporting discussions with over a dozen nations, with talks significantly progressing. The administration has indicated that they are actively negotiating with countries such as India, the UK, South Korea, and Japan.