Great Britain starts with the press.com
Donald Trump has confirmed the conclusion of the first trade agreement in the customs dispute and speaks of a « complete and comprehensive » contract. Britain is starting, which has already completed another large deal this week.
The announcement from Wednesday evening was still a bit cryptic. But now the cat is out of the sack: US President Donald Trump has confirmed the conclusion of a trade agreement with Great Britain. The contract is « complete and comprehensive », he wrote on Thursday in his online service Truth Social. Media had previously reported that it was just a framework agreement.
Trump had announced an « important » trade agreement on Wednesday with a « large, highly valued country ». It was the « first of many » contracts – he repeated this on Thursday. The relationship with Great Britain will « consolidate the relationship between the two countries for many years, » he added.
Trump and Strander under pressure
Trump wants to achieve a total of 17 agreements with the most important trading partners in the United States.
A press conference is planned for 10 a.m. (4 p.m. CEST). In London, a government spokesman said Premier Keir Strandmer would comment on the progress of negotiations with the United States during the day.
Trump is under pressure to find a way out of his plan, to raise the US tariffs to the highest level in a century. According to surveys, many Americans are dissatisfied with their economic policy.
But also Stranders is under pressure to reach Washington after the car and steel industry warned of the “devastating” effects of the tariffs. For the British Prime Minister, Sir Keir Strander If the deal with the USA is already the second trade agreement within a week after it has concluded an agreement with India on Tuesday.
Presumed content of the deal
Details of the agreement have not yet been known. In contrast to Trump’s explanation that the contract was « complete and comprehensive », officials of the United Kingdom were according to « Financial Times« Assumed that » the agreement only has a limited extent and will concentrate on the car and steel industry, which are most affected by Trump’s trade war and have to raise tariffs of 25 percent on their US exports. » British officials also tried with the Trump team in conversation to avert future US tariffs on products such as pharmaceuticals and aerospace. In addition, they had tried to convince Trump to reduce his global « basic customs » of ten percent to the United Kingdom, but admitted that this would not happen, the « Financial Times » continued. However, they believe that the agreement from Thursday will open the door for further conversations.
According to « Financial Times », it is expected that « Great Britain reduces the tariffs to US imports as part of the agreement, whereby a reduction in ten percent customs on auto imports and the taxes on meat and shellfish products are possible. The U.S. tech corporation is also in conversation. »
The bilateral trade statistics
In the past few weeks, Trump and Strand had spoken of “productive negotiations” between their historically closely connected countries. The United States and Great Britain have a diplomatic and economic « special relationship ».
The trade between the two economies is currently relatively balanced – according to statistics, Great Britain exported in 2024 were worth £ 59.3 billion (69.7 billion euros) to the USA and imported from there were worth 57.1 billion euros. That should help with the conclusion of an agreement. With its high tariffs, Trump claims to reduce the US trade deficit with other countries and bring jobs back into the country.
Talks with many countries
US officials now have trade talks with Japan, Vietnam, India and the EU led. US finance minister Scott Bessent Will travel to Switzerland for talks with Chinese officials on Thursday. The tensions between Washington and Beijing have triggered fears about a harmful decline in trade between the two largest economies in the world.
Comprehensive trade agreements usually require years of negotiations. Talks with several countries usually focus at best on basic agreements about obligations and intentions. The many details that are traditionally contained in comprehensive trade agreements have to be negotiated later. ((Bloomberg/Ft/est)
