President Donald Trump announced the achievement of a comprehensive trade agreement with the United Kingdom, concluding such negotiations this week between the two allies and creating the first of several agreements with countries around the world. "I am pleased to announce that we have reached an innovative trade agreement with the United Kingdom," Trump said Thursday at the White House.
Preliminary, the President of the USA noted on his social media that Thursday would become a "historic day" for both countries. "The agreement with the United Kingdom is a full and all-encompassing and strengthens the relationship between the USA and the United Kingdom for many years," Trump wrote in one of his messages.
The President has temporarily suspended the introduction of tariffs to allow countries to reach agreements with the United States. "This facilitates trade between our countries and among them; it not only protects jobs but also creates them and opens access to markets," said British Prime Minister Keir Stamer during the event by telephone.
The agreement with Britain could provide keys to potential future agreements with other economies. "Ahead of us await many other agreements, currently in the final stages of negotiations," Trump promised.
From the Oval Office, Trump clarified that Britain removes "many non-tariff barriers," allowing for greater access to the British market for agricultural and chemical products from the USA. "Britain reduces or eliminates some non-tariff barriers that, unfortunately, unjustly discriminate against production from the USA," Trump explained at a press conference.
**What does the trade agreement between the USA and the United Kingdom contain?**
Trump preliminarily noted that the full details of the agreement will be worked out in the coming weeks. "Due to our long-standing mutual history, it is very likely that Britain will become our FIRST announced partner. Within the framework of the agreement, the UK's acceleration of customs processing for products from the USA and reduction of barriers for the export of agricultural, chemical, energy, and industrial products.
"The agreement includes billions of dollars increase in access to market for American exports, especially in agriculture, dramatically increasing access for American beef, chicken and practically all products produced by our large farmers," Trump said.
This is Trump's first statement after he introduced high tariffs on dozens of trading partners of the United States. The agreement has a limited scope and retains the basic tariff rate at 10 percent, according to EFE information.
