The Department of Commerce together with USTR Announces Historic Trade Deal with the United Kingdom to Open Markets, Raise Revenue and Strengthen Security

The Department of Commerce together with USTR Announces Historic Trade Deal with the United Kingdom to Open Markets, Raise Revenue and Strengthen Security 

WASHINGTON D.C. — Today, the United States and the United Kingdom announced a historic trade deal – providing unprecedented access to the U.K. markets while bolstering U.S. national security. 

The reciprocal tariff rate of 10%, as originally announced on Liberation Day, will remain. The trade deal will increase tariff revenue dramatically, bringing in billions of dollars in new revenue. 

The deal removes longstanding U.K. market barriers creating a $5 billion opportunity of new exports for U.S. farmers, ranchers, and producers. These exports include ethanol, beef, fruits, vegetables, animal feed, tobacco, shellfish, chemicals, textiles, and more. The U.S.-U.K. trade deal will usher in a golden age of new opportunity for U.S. exporters, establishing a long-sought level playing field for American producers. 

Under the deal, U.K. car manufactures are limited to a 100,000 per year vehicle quota at the reciprocal rate of 10% and thereafter will pay 25%. The U.S.-U.K. trade deal furthers shared national security interests by creating a new union for steel and aluminum and establishing a secure supply chain for pharmaceutical products. 

“This deal marks a new era in our relationship with the United Kingdom, our great ally.” Secretary Lutnick said “And more importantly this deal opens up an enormous multibillion dollar export opportunity for hardworking Americans. While groundbreaking, this deal is the first of many as President Trump continues to deliver on his promises to the American people.”