Trump officially makes trade deal with U.K.
President Donald Trump has "inked" a trade deal with the United Kingdom, Fox News reports.
According to Trump, this is one of a large number of deals that Americans ought to expect to see being made between the United States and other countries in the coming weeks and months.
It appears that the administration is working diligently on these deals, including, perhaps, what will be the biggest trade deal of them all - the one with China.
The administration recently revealed that it has made some progress with China, but first, we will take a look at the deal made with the United Kingdom.
The details:
Trump, on social media, announced the deal.
He wrote:
Today is an incredible day for America as we deliver our first Fair, Open, and Reciprocal Trade Deal — Something our past Presidents never cared about. Together with our strong Ally, the United Kingdom, we have reached the first, historic Trade Deal since Liberation Day. As part of this Deal, America will raise $6 BILLION DOLLARS in External Revenue from 10% Tariffs, $5 BILLION DOLLARS in new Export Opportunities for our Great Ranchers, Farmers, and Producers, and enhance the National Security of both the U.S. and the UK through the creation of an Aluminum and Steel Trading Zone, and a secure Pharmaceutical Supply Chain. This Deal shows that if you respect America, and bring serious proposals to the table, America is OPEN FOR BUSINESS. Many more to come — STAY TUNED!
We still do not really have specific details about the deal.
What we do know is that it appears to keep in place the 10% tariffs that the United States had imposed on the United Kingdom. It, however, appears to have removed some import taxes on certain items, such as cars and steel.
Trump has also said that it will be "great for our farmers and ranchers." And, in general, he claimed that "everybody benefits" from it.
A U.S.-China deal incoming?
The administration has revealed that it has been in talks with China about a trade deal.
Trump, in a separate social media post, said the discussions with China have been "constructive."
"A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner," he wrote.
The president added, "We want to see, for the good of both China and the U.S., an opening up of China to American business."
"GREAT PROGRESS MADE!!!" the president concluded.