LONDON (dpa-AFX) - The U.S.-UK trade deal that President Donald Trump and Prime Minister Keir Starmer announced on the 80th anniversary of Victory Day will provide American companies unprecedented access to the UK markets.
Trump said, '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 is now turning out to be, really, a great deal for both countries.'
Starmer said, 'This is going to boost trade between and across our countries. It's going to not only protect jobs, but create jobs, opening market access.'
The trade deal will usher in a golden age of new opportunity for U.S. exporters and level the playing field for American producers, according to the Trump administration.
The White House estimates that this agreement in principle provides significant expansion in U.S. market access in the UK, creating a $5 billion opportunity in new exports for U.S. stakeholders, including U.S. farmers, ranchers, and producers.
This includes more than $700 million in ethanol exports and $250 million in other agricultural products, like beef.
U.S.-UK Economic Prosperity Deal commits both the countries to work together to enhance industrial and agricultural market access; to work to develop high-standard commitments in the areas of intellectual property, labor, and environment; and to negotiate an ambitious set of digital trade provisions.
The deal will ensure streamlined customs procedures for U.S. exports.
It secures the supply chain of U.S. aerospace manufacturers through preferential access to high-quality UK aerospace components, and the supply chain for pharmaceutical products.
Under the deal, the first 100,000 vehicles imported into the U.S. by UK car manufacturers each year are subject to the reciprocal rate of 10 percent and any additional vehicles each year are subject to 25 percent tariff.
The United States' total goods trade with the UK was an estimated $148 billion in 2024.
The agreement in principle lays the groundwork to reduce tariffs on U.S. products, remove discriminatory trade barriers for U.S. agricultural and industrial goods in the United Kingdom, give U.S. producers reciprocal market access, negotiate strong digital trade provisions, and achieve economic security alignment, the White House said.
The United States and United Kingdom are immediately beginning negotiations of the EPD to develop and formalize the proposals made in the document, which the White House said does not constitute a legally binding agreement.
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