The Trump administration has released details on the trade deal the United States has reached with the United Kingdom — the first agreement since Trump implemented his “Liberation Day” tariffs last month.
The agreement between the allies covers products across a wide range of sectors, including agriculture, automobiles, steel, and more.
According to the administration, the agreement opens up $5 billion in new market access for American exporters in the U.K. The ten percent baseline Liberation Day tariff remains in effect, which the White House estimates will generate $6 billion in external revenue.
U.S. products that are gaining “unprecedented access to the U.K. Market” include “ethanol, beef, cereal, fruits, vegetables, animal feed, tobacco, soft drinks, shellfish, textiles, chemicals, machinery, and more,” a chart Trump shared on social media notes.
A White House fact sheet on the deal notes that the $5 billion in added market opportunities for U.S. producers include “more than $700 million in ethanol exports and $250 million in other agricultural products, like beef.”
As part of the deal, the first 100,000 British-made cars imported into the United States annually will face a ten percent tariff. Additional imported cars will be tariffed at 25 percent. Trump notably placed a 25 percent tariff on all foreign-made cars on Liberation Day. The policy has been amended, but the deal with the U.K. grants British automakers some relief compared to other foreign producers.
