DJT Signs Trade Deal with UK to Ease Tariffs
At the G7 meeting in Canada, Donald Trump met with United Kingdom Prime Minister Sir Keir Starmer and at last signed an executive order to implement their handshake deal regarding tariffs.
Trump dropped the papers when announcing the signed deal publicly. Starmer hastened to pick them up. He also seemed to believe the UK and European Union are the same thing, saying he had signed a “trade agreement with the European Union.”
The deal will be in place by the end of June 2025. It will set tariffs for UK aerospace imports into the USA at zero. Bringing tariffs on UK steel down from the current 25% to zero is still in progress. The outline of the handshake deal is that quotas by the USA will essentially eliminate tariffs on steel from the UK and cut tariffs on vehicles from the UK to 10%.
About future tariffs against the UK, Trump said, “The UK is very well protected. You know why? Because I like them. The prime minister has done a really good job. He has done what other people have been talking about for six years and he has done it.”
To finalize the deal on the UK side, government must present a written statement to Parliament. There is no realistic possibility of pushback against it. No other country has been able to finalize a trade deal with Trump at this point to reduce the impact of his tariffs.
Click here for more details.
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