Speaking to reporters and the American people from the Oval Office Thursday morning, President Donald Trump detailed a new trade agreement between the United Kingdom and the United States just one month after Liberation Day.
"I think it's a great deal for both parties," Trump said. "It opens up a tremendous market for for us."
"I think it's going to be something very special for the UK and for the United States," he continued. “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.”
🚨President Trump announces the "historic" details of his trade deal with the U.K.
— Townhall.com (@townhallcom) May 8, 2025
"The deal includes a plan that will bring the United Kingdom into the economic security alignment with the United States. That’s the first of its kind." pic.twitter.com/1zkDeSNAOo
As we sift through details of the deal, here are the basics.
"Today is an incredible day for America as we deliver our first Fair, Open, and Reciprocal Trade Deal — Something our past Presidents never cared about. Together with our strong Ally, the United Kingdom, we have reached the first, historic Trade Deal since Liberation Day," Trump posted on Truth Social.
"As part of this Deal, America will raise $6 BILLION DOLLARS in External Revenue from 10% Tariffs, $5 BILLION DOLLARS in new Export Opportunities for our Great Ranchers, Farmers, and Producers, and enhance the National Security of both the U.S. and the UK through the creation of an 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. Many more to come — STAY TUNED!" he continued.
And additional details from the White House:
This trade deal will significantly expand U.S. market access in the UK, creating a $5 billion opportunity for new exports for U.S. farmers, ranchers, and producers.
This includes more than $700 million in ethanol exports and $250 million in other agricultural products, like beef.
It commits the countries to work together to enhance industrial and agricultural market access.
It closes loopholes and increases U.S. firms’ competitiveness in the UK’s procurement market.
It ensures streamlined customs procedures for U.S. exports.
It establishes high standard commitments in the areas of intellectual property, labor, and environment.
It maximizes the competitiveness and secures the supply chain of U.S. aerospace manufacturers through preferential access to high-quality UK aerospace components.
It creates a secure supply chain for pharmaceutical products.
The reciprocal tariff rate of 10%, as originally announced on Liberation Day, is in effect.
The United States will agree to an alternative arrangement for the Section 232 tariffs on UK autos.
Under the deal, the first 100,000 vehicles imported into the U.S. by UK car manufacturers each year are subject to the reciprocal rate of 10% and any additional vehicles each year are subject to 25% rates.
The United States also recognizes the economic security measures taken by the UK to combat global steel excess capacity and will negotiate an alternative arrangement to the Section 232 tariffs on steel and aluminum.
This deal creates a new trading union for steel and aluminum.
This U.S.-UK trade deal will usher in a golden age of new opportunity for U.S. exporters and level the playing fields for American producers.
Today’s action also sets the tone for other trading partners to promote reciprocal trade with the United States.
🚨 🚨 🚨 pic.twitter.com/6wmO4WZi6K
— Rapid Response 47 (@RapidResponse47) May 8, 2025
More deals are on the way.
President Trump proves his critics wrong with major trade deal with the U.K., adding that more deals are coming soon.
— Townhall.com (@townhallcom) May 8, 2025
"We have many meetings planned today and tomorrow. Every country wants to be making deals." pic.twitter.com/B0w06F07dE
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