On May 8, the 80th anniversary of Victory Day for World War II, President Donald Trump and British Prime Minister Keir Starmer announced a historic trade deal, providing American companies unprecedented access to the United Kingdom markets while bolstering U.S. national security.
The Economic Prosperity Deal with the UK is beneficial to America, said President Trump from the Oval Office:
“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. . . .The UK will reduce or eliminate numerous non-tariff barriers that unfairly discriminated against American products.”
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, according to the White House. This includes more than $700 million in ethanol exports and $250 million in other agricultural products, like beef.
The trade deal with the UK will ensure streamlined customs procedures for U.S. exports, said President Trump:
“They’ll also be fast-tracking American goods through their customs process. So, our exports go to a very, very quick form of approval, and there won’t be any red tape. Things are going to move very quickly both ways.”
Furthermore, the deal includes plans that will bring the UK into an economic security alignment with the United States, explained President Trump:
“Both countries have agreed that the economic security is national security, and we’ll be working together as allies to ensure that we have a strong industrial base, appropriate export controls, and protections for key technologies and industries like steel. Steel is a big factor. Both countries will become stronger with steel and things necessary for military.”
“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,” noted the White House. This deal also “sets the tone for other trading partners to promote reciprocal trade with the United States.”
The Economic Prosperity Deal with the United Kingdom is a critical step forward in a special relationship to promote reciprocal trade with a key ally and partner.
