US and UK reach trade deal agreement

(Patria) - The United States and the United Kingdom reached a trade deal agreement yesterday.

In a direct address from the Oval Office, US President Donald Trump emphasized that this is the first "fair, open, and reciprocally oriented trade agreement" that will benefit American meat producers, ethanol, and other exporters.

Trump added that the United Kingdom is one of America's most valued allies and that the agreement is not only significant in value but will "expand on its own."

UK Prime Minister Keir Starmer called this day fantastic and historic.

- This is an agreement that will protect businesses and save thousands of jobs in the United Kingdom, truly important, skilled, and well-paid jobs. It will abolish tariffs on British steel and aluminum, reducing them to zero.

It will provide vital guarantees for our life sciences sector, which is so important to our economy, and grant UK farmers unprecedented market access without compromising our high standards - Starmer said.

He emphasized that the deal will boost employment and trade on both sides of the Atlantic.

- On Victory in Europe Day, when we stood shoulder to shoulder as allies, we are now extending that list to trade - Starmer added.

Earlier yesterday, Trump announced on his Truth Social platform that "this should be a very big and exciting day" for the US and the UK.

A "comprehensive and all-encompassing" trade agreement will "cement the relationship" between the two countries "for many years to come," Trump wrote.

This is the first such agreement reached since Trump imposed significant tariffs on goods imported into the US worldwide, before slightly slowing down their implementation after the disruption it caused to the global economic order, AFP recalls.

Trump confirmed that the final details of the agreement have not yet been fully written, but added that it is a "done deal."

Although the public does not yet know all the technical details, the White House has clearly positioned this agreement as an example that many others could follow - as Trump said, more than 80 countries are already showing interest in similar negotiations.

The agreement states that there are no tariffs on Rolls-Royce engines and parts intended for aircraft.

Additionally, 100,000 cars from the UK will be exported to the US annually while retaining a 10 percent initial tariff. Fast customs procedures will also be enabled for American exporters, without bureaucratic obstacles.

Open access for American agricultural products, including beef and ethanol, has also been agreed upon. The agreement also includes American chemical products.

- It is estimated that American exporters will receive an additional five billion dollars, while the existing 10 percent tariff will generate another six billion dollars in revenue for the US - said US Secretary of Commerce Howard Lutnick.