British Prime Minister Keir Starmer and U.S. President Donald Trump announced a "historic" trade deal to protect British jobs. Though it includes a reduction in tariffs on British vehicles and the elimination of tariffs on U.K. steel, it does not significantly enhance the UK's trade position with the U.S. compared to pre-existing tariffs. Starmer heralds this as a victory amid criticism that it doesn't meet the UK's ambitious post-Brexit trade expectations. Overall, while some aspects of the deal could boost U.K. industries, broader tariffs remain unresolved.
Starmer hailed a "fantastic, historic" day as he joined Trump in announcing a new trade deal that aims to protect thousands of British jobs.
Key provisions include slashing tariffs on British cars to 10 percent for the first 100,000 vehicles and eliminating a 25 percent tariff on U.K. steel and aluminum exports.
Despite the optimism, a broad 10 percent tariff on most British goods remains in place, indicating that the deal falls short of the UK's hopes.
Downing Street still views the agreement as a win, while Starmer seeks to bolster U.S.-U.K. relations following Brexit.
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