President Donald Trump on Thursday announced a new trade deal with the United Kingdom – the first of the fact that reciprocal tariffs for Liberation Day were announced in early April.
At a press conference held in the Oval Cabinet, the commander -in -chief told reporters that the deal “includes billions of dollars for increased market access for US exports, especially in agriculture, drastically increasing access to American beef, ethanol and almost all products made by our great farmers.”
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Although the message was bright on the specifics – and the more financial points of the deal are still being finalized – the president said: “Things will move very quickly in both directions.
New market access for US chemicals, machines and industrial products will be included in the contract, he added. “In addition, in a historical step, the deal includes plans that will bring the United Kingdom into line with economic security with the United States,” Trump said.
The White House fact sheet released shortly after the presser included several supporting points of data. The deal includes an increase in access to the $ 5 billion market for US farmers, ranches and manufacturers, although it is unclear whether the United Kingdom has agreed to buy this amount of goods directly.
The information sheet also confirmed that the 10-year universal base tariff imposed on the UK last month remains in force, creating potential revenue from $ 6 billion in US government. Meanwhile, the United Kingdom has agreed to reduce the rates for goods and services in the United States from 5.1 percent to 1.8 percent.
The deal puts a special focus on cars that represent the largest export № 6 in America to the UK and the country’s best exports to the United States, according to the Trade Division. According to the transaction, the first 100,000 vehicles imported into the United States by the United Kingdom manufacturers will be subordinated to the “reciprocal” rate of 10 percent, and all additional cars will be subject to 25 % duties. This agreement replaces the 25 % tariff currently for foreign vehicles imported into the US
The Leaf of the Facts-and Trump’s comments have also hinted that aluminum imports, currently subject to the global 25 % duties, can be changed in the future.
British Prime Minister Keyer Starmer praises the president’s efforts and exalt the long -standing relationships of trade and foreign policy of the two countries.
“We are absolutely the closest of the Allies for so many years, keeping peace through this close union, this friendship, we add to this deal for trade and the economy,” he said by phone while reporters listened.
“There are no two countries that are closer than our two countries, and now we accept this in a new and important territory, adding trade and economy to the proximity of our relations,” he added. “It is built, as you say, according to these concepts of justice and reciprocal arrangements. We have always had a fair and balanced agreement between our countries. This is based on extremely important for sectors such as car and steel and aluminum production and many others.”
While asking reporters after the announcement, Trump repeated plans for Finance Minister Scott Bensten and US Sales Representative Ambassador Jamison Greer to travel to Switzerland this weekend to meet Chinese employees.
Asked if he would think about lowering the tariff rate, if the conversations are going well, Trump replied: “Well, it may be. I want to say we will see; we can’t get taller at the moment.
“As you know, there is a huge commercial surplus with us and … we just can’t have it. I think it will be very good for both countries. I would like to see China open,” he added.
Asked if the meeting will be a formality or a significant discussion, Trump said, “I think it will be essential. China wants to do something. They have to do at this point.”
But China sticks to its weapons and continues to show a reluctance to surrender to Trump’s pressure campaign.
“Allow me to emphasize that China’s determination to protect our legal rights and interests will not change, and our position and aim to protect international justice and justice and to maintain a multilateral trading system will not change,” said Foreign Ministry spokesman Lin Jian on Thursday.
Trump also hinted briefly about the declining trade between the US and China following the opposition of tariffs when a reporter asked about the falling volumes of containers in US ports. Pale traffic in the largest gateways in America has workers and truck drivers worried about their work, the reporter said. The ports of Los Angeles and Long Beach, which process about 40 percent of the country’s total imports, expects imports to drop annually by 35 percent and 38 percent, respectively, for May 4-10.
“It means we lose less money … When you say it is delayed, it’s a nice thing, not a bad thing,” the president replied.