Trump is unveiling the trade deal agreed with the UK. Starmer is speaking at a press conference at 4 p.m. Now later…
Starmer is on the phone with the President there. Trump says “great deal for both countries.”
- “Unprecedented access to UK market” including ethanol, beef, cereals, fruits, vegetables, animal feed, tobacco, soft drinks, shellfish, textiles, chemicals, machinery.
- Fast tracking American goods through UK customs process.
- Final details being written up in coming weeks.
- Details to bring UK into “economic security blanket” with US.
- Trump said the “final details” are still being “written up… the actual deal is a very conclusive one we think, just about everything has been approved.”
- Starmer says “tribute to both teams, tribute to both countries.“
Commerce secretary Howard Lutnick says the nationalisation of British Steel is part of the deal and that the UK will buy £10 billion of Boeing plane parts today. “Everything works exceptionally well for the United States of America”…
More details:
- UK agricultural markets opened up to US, worth £5 billion.
- 10% tariff stays.
- Quota of 100,000 UK cars with 10% tariff afterwards.
- UK matching US tariffs on steel.
- Aerospace exports tariff free.
Downing Street says “the Digital Services Tax remains unchanged as part of today’s deal. Instead the two nations have agreed to work on a digital trade deal that will strip back paperwork for British firms trying to export to the US – opening the UK up to a huge market that will put rocket boosters on the UK economy.”
Trump says “because of Brexit in particular, this was a separate deal.”
USA predicts deal will “exponentially increase exports of US beef.” UK has agreed to accept 13,000 tonnes of US beef. Imports of hormone treated beef or chlorinated chicken are off table…
Film not in the deal.
UPDATE: Badenoch says: “We cut our tariffs — America tripled theirs. Keir Starmer called this ‘historic.’ It’s not historic, we’ve just been shafted!”
UPDATE II: Andrew Griffith, Shadow Trade Secretary, praises the deal:
“The reduction in tariffs announced today will be welcomed by exporting businesses. The ability to strike our own free deals is a Brexit benefit and I hope this moves us conclusively into an era where this government is committed to preserve that freedom.
Conservatives have been consistent in their support for trade agreements and the reduction of tariffs and today is the continuation of a process which started under the first Trump presidency.
But British businesses need to hear more details about the deal which has been agreed and for the government taking actions to support business such as shelving the devastating Employment Rights Bill and reducing the UK’s uncompetitively high energy costs.”
Not much co-ordination on this response then…
Starmer said to Robert Peston this afternoon:
“I’m fed up with the fact that families across the country see their bills go up and down on energy businesses bills go up and down on energy because of the actions of Putin or Trump across the world.”
