US & UK Expected to Sign New Trade Agreement This Week
The ongoing global economic landscape is set to enjoy a major development as the US and UK are expected to sign a new trade agreement this week. Indeed, both sides are closing in on a new deal that will feature lowered tariffs on both UK steel and car exports.
The new agreement is reportedly set to offer some relief from US President Donald Trump’s ‘Liberation Day’ tariff plan that debuted in early April. Specifically, it will feature new quotas that “spare some UK exports from the full brunt” of the 25% tariff, according to a report from The Financial Times
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— Watcher.Guru (@WatcherGuru) May 6, 2025US & UK expected to sign new trade agreement this week.
Also Read: BRICS: India Agrees to Drop Tariffs on the US
The UK and US Closing in on New Trade Deal
Early Tuesday, news broke that the United Kingdom and India reached a landmark free trade agreement. The development was set to benefit the former in a major way, as consumers were set to get a reprieve from tariff costs. Subsequently, all eyes were fixed on the US, which is currently negotiating a new trade deal with both countries.
The prospects for a new deal became increasingly optimistic today. Indeed, the UK and the US are expected to sign a new trade agreement this week. Specifically, a new report notes that UK trade negotiators are traveling to Washington. The purpose of the visit appears to be the finalization of the terms.
Also Read: US and Saudi Arabia Finalizing New Mining & Mineral Deal
There still remain “disagreements” over the pharmaceutical sector. However, they are not expected to threaten a finalized deal. Additionally, the UK is hoping it can gain an exemption from the 25% tariff on both steel and automakers. In turn, the UK is offering “concessions” in digital services taxes on tech companies.
In late April, it was reported that President Trump designated a UK trade deal as a “second-order priority.” This had many concerned that an agreement would not come to pass by this month. Yet, that appears not to be the case. US Treasury Secretary Scott Bessent recently told Congress that trade deals could come “as early as this week.” Although he reserved some details, it now appears the UK was part of that list of progressing negotiations.
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US and Saudi Arabia Finalizing New Mining & Mineral Deal
US & UK Expected to Sign New Trade Agreement This Week
The ongoing global economic landscape is set to enjoy a major development as the US and UK are expected to sign a new trade agreement this week. Indeed, both sides are closing in on a new deal that will feature lowered tariffs on both UK steel and car exports.
The new agreement is reportedly set to offer some relief from US President Donald Trump’s ‘Liberation Day’ tariff plan that debuted in early April. Specifically, it will feature new quotas that “spare some UK exports from the full brunt” of the 25% tariff, according to a report from The Financial Times
JUST IN:
— Watcher.Guru (@WatcherGuru) May 6, 2025
Also Read: BRICS: India Agrees to Drop Tariffs on the US
The UK and US Closing in on New Trade Deal
Early Tuesday, news broke that the United Kingdom and India reached a landmark free trade agreement. The development was set to benefit the former in a major way, as consumers were set to get a reprieve from tariff costs. Subsequently, all eyes were fixed on the US, which is currently negotiating a new trade deal with both countries.
The prospects for a new deal became increasingly optimistic today. Indeed, the UK and the US are expected to sign a new trade agreement this week. Specifically, a new report notes that UK trade negotiators are traveling to Washington. The purpose of the visit appears to be the finalization of the terms.
Also Read: US and Saudi Arabia Finalizing New Mining & Mineral Deal
There still remain “disagreements” over the pharmaceutical sector. However, they are not expected to threaten a finalized deal. Additionally, the UK is hoping it can gain an exemption from the 25% tariff on both steel and automakers. In turn, the UK is offering “concessions” in digital services taxes on tech companies.
In late April, it was reported that President Trump designated a UK trade deal as a “second-order priority.” This had many concerned that an agreement would not come to pass by this month. Yet, that appears not to be the case. US Treasury Secretary Scott Bessent recently told Congress that trade deals could come “as early as this week.” Although he reserved some details, it now appears the UK was part of that list of progressing negotiations.
Read More