US President Donald Trump and UK Prime Minister Keir Starmer have announced details of a trade deal following its announcement. “This is a historic day” said Starmer during a joint video conference between Washington and London on Thursday afternoon.
“We have been trying for a long time to conclude a deal with the EU and it did not work, but with the United Kingdom, it has now worked” said Trump. Switzerland is already planned to be the next country with which the US will strike a deal, according to the US President.
US Trade Secretary Howard Lutnick stated that the deal has opened up new market access, including ethanol, beef and generally products from US farmers. “This will provide American exporters with additional opportunities worth five billion dollars” said Lutnick.
“And we still have a 10% tariff that will bring six billion dollars in revenue to the United States. It has been agreed that the United Kingdom can send 100,000 cars at the original 10% tariff to the US” said Lutnick.
“Rolls-Royce engines and parts for airplanes can be exported duty-free from the United Kingdom to the US” he added. This is only a fraction of the US market, but it will secure many jobs in the UK. Ten billion dollars worth of Boeing aircraft will be purchased by the UK “today” according to the minister.