United States President Donald Trump has announced from the White House that his administration has reached a trade agreement with the United Kingdom.
The agreement reaffirms that "reciprocity and fairness are core principles of international trade" and increases access for American agricultural products, Trump said.
Trump has agreed to reduce tariffs on British cars, steel and aluminum, while the United Kingdom has pledged to buy more American meat and speed up customs procedures for goods from the United States.
The deal has not yet been finalized, but the US president suggested he would be able to negotiate with other countries, after the broad tariffs he imposed on many countries around the world rocked global markets.
The announcement of the deal signifies a political victory for British Prime Minister Keir Starmer, and lends some legitimacy to Trump's stance that his approach to trade can restore global economic balance, on the terms he prefers.
The US president praised the agreement as he spoke to reporters from the Oval Office.
"The final details are being worked out," Trump said. "In the coming weeks, the deal will be finalized."
The US president said that this agreement will increase exports of meat and ethanol to Britain, which will also speed up customs procedures for American goods.
US Commerce Secretary Howard Lutnick said the base tariff of 10 percent would remain in place, while British officials said Trump's auto tariffs would be cut from 27.5 percent to 10 percent for a quota of 100,000 vehicles. They said import tariffs on steel and aluminum would be reduced from 25 percent to zero.
Trump warned that this agreement, with the retention of the 10 percent tariff, will not be a model for other countries seeking trade deals with the US.
"This is a low rate," Trump said of his 10 percent tariff.
British Prime Minister Keir Starmer, during a phone call with Trump, stressed the importance of relations between the two countries, as the two leaders commemorated the anniversary of victory in Europe during World War II.
"To be able to reach this excellent deal on this very day, 80 years later, at almost the same hour and as we were 80 years ago, with the United Kingdom and the United States side by side, I think is incredibly important," Starmer said.
Later, Starmer spoke to workers at a Jaguar Land Rover factory and praised the deal, which he said would protect thousands of jobs in the auto industry.
He told workers that "this is just the beginning," adding that "we are finalizing other details to reduce trade barriers with the United States and the rest of the world."
This is the first agreement to be announced since Trump imposed tariffs on imports in an attempt to boost domestic production.
After returning to the White House, he imposed tariffs on many countries around the world, including traditional allies like Britain, which was hit with tariffs on steel, aluminum, and the auto industry.
On April 2, Trump imposed sweeping tariffs on many countries around the world, but later suspended their implementation, saying his administration would seek to reach agreements with individual countries in the coming months. (A2 Televizion)
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