President Trump's commerce secretary, Howard Lutnick, criticized the recent U.S.-UK trade deal during a press conference. The deal includes reduced tariffs on British cars, steel, and aluminum while maintaining a baseline 10% tariff on other goods. In exchange, the UK commits to purchasing more American beef and ethanol. Lutnick emphasized the importance of protecting jobs in the UK auto industry and highlighted how the British government is nationalizing British Steel to stabilize their economy. Overall, he expressed a positive outlook on the deal, indicating a strong partnership between the U.S. and UK.
For the UK auto people, this is tens of thousands of jobs that the president agreed that he would protect for them. So he made that deal, right?
...their steel business has been destroyed like everybody else has been destroyed by people dumping steel into their markets.
The British government as part of this deal nationalized British Steel. And they're going to match the kinds of models we do. They'll put tariffs on, they'll put quotas on.
So we feel really good about the deal. You've heard the Prime Minister, he feels really good the deal, right?
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