Trump, 78, told reporters in the Oval Office that the UK will be “opening up the country” to American goods, especially agricultural products like beef.
Notably, the current tariff rate of 10% will remain in place on the UK, but will give London some breathing room on cars and plane parts — as well as invite the ally into an “economic security agreement” with the US.
“The UK was largely closed, very much closed to trade, and now it’s opened,” the president proclaimed — after British Prime Minister Keir Starmer joined the announcement from London via speakerphone.
The final details of the deal are still being written up, the president said before claiming the 10% baseline tariff on British goods was “probably the lowest” rate possible for future bilateral deals — though that rate is roughly triple the average US levy prior to the 47th president taking office.
The deal will exempt 100,000 UK-made cars from Trump’s new 25% global auto tariff, making them subject to the 10% rate instead.
The UK, meanwhile, is dropping its ethanol fuel tariff from 19% to zero — while the US eliminates tariffs on airplane parts, including Rolls Royce engines.
London also is applying 25% tariffs on foreign steel and aluminum — the same rate Trump dictated in February — allowing its product to be exempted from the American duties.
“The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol and virtually all of the products produced by our great farmers,” Trump said.
“The UK will reduce or eliminate numerous non tariff barriers that unfairly discriminate against American products … They’ll also be fast-tracking American goods through their customs process, so our exports go to a very, very quick form of approval, and there won’t be any red tape,” he went on.
“We’ll also receive new market access for American chemicals, machinery and many other industrial products that weren’t allowed.”
Because the deal has not been finalized, it was not immediately clear how the UK would alter rules around imported American beef grown with hormone enhancement.
“We’ll have it all very conclusive, but the actual deal is a very conclusive one,” Trump said. “We think just about everything’s been approved.”
Starmer said the bargain, which was still being hashed out at the 11th hour ahead of the announcement, is “hugely important for sectors like car manufacturing and for steel and aluminum and so many others.”
“We’ll have it all very conclusive, but the actual deal is a very conclusive one,” Trump said. “We think just about everything’s been approved.”
“We can finish ironing out some of the details, but there’s a fantastic platform here, including, of course, on the tech side,” the UK prime minister said.
The president has enjoyed a close relationship with Starmer after the two met at the White House Feb. 27.
The PM specifically praised Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer Thursday as playing key roles in the talks.
Trump had seemed unaware of a potential UK deal as late as Tuesday, telling The Post when asked about reports a deal was close: “Who? What? … What about the United Kingdom? … They’re offering us concessions? I hope so.”
Not everyone in Trumpworld was taking a victory lap over the agreement.
“While it may be a good first step, ‘frameworks’ aren’t enough,” one source close to the administration said. “There needs to be tangibles, specifics, and serious enforcement mechanisms. Let’s not overpromise and underdeliver.”
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