Summary
- "President Trump has announced plans to reveal the key provisions of the trade agreement between the United States and the United Kingdom within the next few days."
- "It is expected that the agreement will include lowering U.S. tariffs on British automobiles and allowing U.S. beef and ethanol to enter the U.K. market."
- "According to the bilateral agreement, the United States will reduce tariffs on 100,000 British passenger cars from 27.5% to 10%, and the U.K. will grant tariff-free access to U.S. beef and ethanol."
U.S. President Donald Trump is reportedly set to announce the key provisions of the trade agreement between the United States and the United Kingdom within the next few days.
According to the Financial Times (FT) on the 12th (local time), President Trump is scheduled to sign the core provisions of the Economic Prosperity Deal between the United States and the United Kingdom within the next few days.
In particular, the deal is expected to include an agreement where the United States lowers its high tariffs on British automobiles, while the U.K. allows the entry of American beef and ethanol into its market.
A British official stated, "The pace is unusually fast," adding, "We expect official implementation within this week."
The media outlet added, "Under the bilateral agreement, the United States will reduce tariffs on 100,000 British-made passenger cars from the current 27.5% to 10%, and the U.K. will grant tariff-free access to 13,000 tons of American beef and 1.4 billion liters of ethanol."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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