President Donald Trump and Prime Minister Keir Starmer announced a trade deal aiming to cut tariffs on goods exchanged between the U.S. and U.K. This pact notably excludes steel tariffs, which remains a point of negotiation. Initial agreement details were set back in May, promising lower U.S. import taxes on British products in exchange for U.S. market access. The implementation phase is nearing completion, providing hope to British businesses. Both leaders expressed confidence in the deal’s potential to generate jobs and increase income, despite past uncertainties regarding tariff hikes from Trump.
Trump and Starmer announced in May they'd struck an agreement that would slash U.S. import taxes on British cars, steel and aluminum in return for greater access to the British market for U.S. products including beef and ethanol.
Starmer said Monday that the trade agreement is in the final stages now of implementation, and I expect that to be completed very soon.
Trump stated, 'The deal is gonna produce a lot of jobs, a lot of income,' reflecting optimism about economic benefits from the trade agreement.
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