Fri, 09 May 2025

Fri, 09 May 2025 How good is the UK trade pact for America?

In Trump's new trade pact with the UK, we got a glimpse of the types of agreements he may seek across the globe.

* The US-UK trade deal announced by President Trump retains a 10% import tax on most UK goods.
* The White House agreed to roll back some import taxes on strategic sectors, such as cars and steel, in exchange for unspecified changes that would expand opportunities for American beef and ethanol sales in the UK.
* Analysts say the deal is narrow and mostly maintains the status quo, with little substantive benefit for either side.
* The Trump administration has hailed the agreement as a "breakthrough", while others have described it as a "marginal" change.
* The deal was criticized by American carmakers, who noted that UK-made cars would become cheaper to import than many US models.
* Republicans have welcomed the deal, but other groups representing farmers and trade experts have expressed skepticism about its significance.
* The real challenge for Trump's trade policy is with China, where tariffs have led to a significant decline in trade traffic and fears of shortages.
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