England-US Reach Trade Pact
President Donald Trump on Wednesday announced a new trade deal between the United States and Great Britain. This is the first agreement Trump has signed since he enacted sweeping tariffs in April.
United Kingdom Prime Minister Keri Starmer was put on a speaker phone for the announcement and called it a “really fantastic, historic day” coinciding with the 80th anniversary of the end of World War II. Not all of the particulars are known at this time. But British automobiles and steel will receive substantial tariff cutbacks compared to what’s being charged for the same products coming from other countries. Meanwhile, Great Britain has agreed to remove barriers that had previously discouraged American imports.
Great Britain is the 9th largest trading partner for the United States. The question now becomes: Will this agreement lead quickly to others, involving the remaining 170 or so nations worldwide. The more deals that can be quickly reached, the less likelihood of empty store shelves and supply chain breakdowns. Here, Steve Turley calls the deal “a bigger victory than you could imagine.”
