Washington— The United States and United Kingdom on Thursday announced a new trade agreement, marking the first deal reached under President Donald Trump’s newly imposed tariffs on nearly all of America’s major trading partners.
President Trump previewed the agreement earlier on Truth Social and formally announced it from the Oval Office, joined by UK Prime Minister Keir Stammer via phone. Describing the moment as “historic,” Trump called it the first “Fair, Open, and Reciprocal Trade Deal” finalized since the implementation of his tariff policy on April 2, a date he referred to as “Liberation Day.”
At the Oval Office event, Trump praised the UK for committing to open up its markets and accelerate customs processing for American goods. He said the deal would eliminate red tape and ensure faster trade between the two countries. Trump also claimed the agreement would generate $6 billion in new revenue through 10 percent tariffs and create $5 billion in additional export opportunities for American farmers, ranchers, and manufacturers. He added that the pact would enhance national security for both nations by establishing a joint Aluminum and Steel Trading Zone and a secure pharmaceutical supply chain.
“This deal shows that if you respect America and bring serious proposals to the table, America is open for business,” Trump said.
Prime Minister Stammer called the agreement “a fantastic, historic day” and emphasized the longstanding alliance between the two nations, calling the trade deal a tribute to their shared history of close cooperation.
The announcement comes as the U.S. continues negotiations with several other countries, including India. American officials have indicated that a trade deal with India could be finalized soon. Talks are also set to begin with China, the U.S.’s largest trading partner, during a high-level meeting scheduled for Saturday in Switzerland. (Source: IANS)
