Trump Strikes Landmark UK Trade Deal, First Since Tariff Measures

US President Donald Trump and British Prime Minister Keir Starmer on Thursday announced a limited bilateral trade agreement that leaves in place Trump's 10 per cent tariffs on British exports, modestly expands agricultural access for both countries and lowers prohibitive US duties on British car exports.

The "general terms" agreement is the first of dozens of tariff-lowering deals that Trump expects to land in coming weeks after upending the global trading system with steep new import taxes aimed at shrinking a USD 1.2 trillion US goods trade deficit.

Trump hailed the deal in the Oval Office with Starmer patched in on a speaker phone, as US Treasury Secretary Scott Bessent and top trade negotiator Jamieson Greer head to Switzerland to launch negotiations with Chinese negotiators.