The president of the United States, Donald Trump, gave a press conference in which he announced Important advances in import tariffs.
“This morning, I am pleased to announce that we have reached a historical commercial agreement with the United Kingdom, a credible country,” said Trump
He added, to put in context, that “today is the day of the victory of World War II” and that “there could be no more perfect morning to achieve this historical agreement.”
«There is a perfect climate out there, but the really special thing is this agreement with one of our closest and closest allies, and we are very happy that it has come out. I want to thank Prime Minister Starmer and his talented team for his excellent work and collaboration. Today’s agreement with the United Kingdom is the first of a series of commercial agreements that my administration has been negotiating during the last four weeks. With this agreement, the United Kingdom joins the United States in the statement that reciprocity and equity are essential and vital principles of international trade ».
Donald Trump, president of the United States.
In addition, Trump said If the conversations advance, there will also be trade agreements with China.
Trump promised that if the commercial agreements combined with tax cuts come to fruition, “they better leave and buy shares now.”
What is the agreement between the United States and the United Kingdom?
According to the official data presented, The United States will get expanded access to the British market for an estimated value of 5,000 million dollars In new exports, while increasing its tariff income by 6,000 million dollars.
In tariff terms, the United Kingdom considerably reduced taxes on the importation of American products, lowering its average rates from 5.1% to 1.8%. On the contrary, the United States increased tariffs on products from the United Kingdom from 3.4% to 10%, adopting a tariff pressure approach that seeks to ensure more advantageous conditions for its exports.
Among the items included are ethanol, vaccine meat, cereals, fruits, vegetables, animal food, tobacco, drinks, seafood, textiles, chemicals, machinery, among others.
In addition, specific clauses for strategic industrial sectors were established. In the case of steel and aluminum, a commercial union based on rates and quotas was agreed. For the pharmaceutical sector, a stable supply chain is ensured. A share of exports of British cars was also introduced, with 10% tariffs applicable up to a cap of 100,000 units. On the other hand, the agreement includes the purchase by the United Kingdom of plane parts produced by Boeing for a value of 10,000 million dollars.
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