Summary
- President Donald Trump announced that the first trade agreement between the U.S. and the UK has been signed.
- He stated that the 10% tariff on the UK will be maintained, expecting $6 billion in foreign revenue.
- The U.S. is expected to provide $5 billion in new export opportunities in agriculture and production sectors.
U.S. President Donald Trump announced on Truth Social on the 8th (local time) that "Today, for the first time in American history, we have signed a fair and reciprocal trade agreement with the UK."
He continued, "As part of this agreement, the U.S. will maintain a 10% tariff on the UK, generating $6 billion in foreign revenue while providing $5 billion in new export opportunities for farmers and producers."
Furthermore, U.S. Secretary of Commerce Howard Lutnick added, "The UK's car tariff has been reduced from the existing 25% to 10%, and the UK is expected to announce a $10 billion purchase of Boeing aircraft."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
