In a major development during President Donald Trump's newly initiated global tariffs, the United Kingdom and the United States on Thursday announced a bilateral trade deal — the first one to be negotiated since the far-reaching duties took effect in April.
The news was made from the Oval Office, where President Trump spoke to the press, with U.K. Prime Minister Keir Stammer participating in the event by phone. The president previously teased the news on Truth Social, referring to it as a breakthrough in American trade policy.
"Today is a great day for America as we bring our first Fair, Open, and Reciprocal Trade Agreement — Something that our previous Presidents didn't care about," Trump posted on Truth Social. "With our powerful Ally, the United Kingdom, we have completed the first, historic Trade Agreement since Liberation Day," he added, referring to April 2 — the day the tariff policy came into force.
Speaking at the White House, Trump complimented the U.K.'s action in opening up its market. "They are opening up the country," he declared. "Their country is a little closed, and we appreciate that. 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. Things are going to move very quickly both ways."
Although some of the minutiae is still pending discussion, the president posted major highlights on his social media site. "As part of this Deal, America will generate $6 BILLION DOLLARS in External Revenue from 10% Tariffs, $5 BILLION DOLLARS in new Export Opportunities for our Great Ranchers, Farmers, and Producers," Trump posted. He also highlighted the agreement would increase national security by way of such initiatives as an Aluminum and Steel Trading Zone and a safe supply chain of pharmaceuticals. "This Deal demonstrates that if you respect America, and make serious offers, America is OPEN FOR BUSINESS."
During the call, Prime Minister Stammer embraced the deal, labeling it a turning point in U.S.-U.K. relations. "This is a really fantastic, historic day on which we can make this announcement about this deal between our two great nations. And I think it's a real testament to the history that we have of being so close to each other and working so closely together," he said.
The United States is also negotiating trade deals with a number of other nations. Negotiations with India have been underway, with U.S. officials saying they are hopeful that an agreement could be reached soon — some even speculating that it may have been the first to come into being.
Meanwhile, U.S. negotiators will sit down with Chinese representatives, its biggest trading partner, for preliminary talks in Switzerland on Saturday.
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