5 dishes to remember from the American trade agreement

The United States and Great Britain announced Thursday that it had concluded an agreement that would reduce tariffs on certain imports, such as steel, cars and ethanol, and would deepen the economic relationship between the two countries.

There have been many mutual congratulations between President Trump at the Oval Office and Keir Starmer, the British Prime Minister, who counted a speaker. It's a really fantastic historical day, said Starmer.

As the dust sets in, it has become clearer than it was just a framework for an agreement and that there could be weeks, if not more, of additional negotiations before it becomes final. Here's what we know.

This is the first trade agreement since Trump increased the prices.

Trumps rewrites the world's commerce book shocked the financial markets, and his administration was under pressure to conclude agreements to reduce uncertainty. Trump said this agreement would be the first of many.

The Trump administration said it would open export opportunities worth $ 5 billion for American companies, while reporting $ 6 billion in pricing income.

But Trump said the end details were still in writing, and British officials said negotiators would continue to reduce not included prices in this agreement.

It is a closely targeted matter.

The agreement will be a huge relief for the British automotive industry, which will now face 10% tariffs on the first 100,000 cars exported each year in the United States. Great Britain sent 92,000 vehicles to the United States in 2024, according to Oxford Economics data.

British officials have warned that the higher prices, which were around 25%, had endangered job industry in the country, which sent more than a quarter of its automobile exports to the United States.

Great Britain will also be excluded from steel and aluminum prices. In exchange, he increased the quota on beef imports from the United States and said that it would remove a price on ethanol, which is used in manufacturing.

Great Britain said it would receive preferential treatment if other sectoral prices were introduced, as on pharmaceutical products.

The two countries also have a high -level agreement on economic security and would work on the construction of a deeper partnership on technology that would cover the life sciences, quantum IT, biotechnology and other sectors.

There are still open questions.

This agreement is not final, and none of the parties said when it could take effect. The British government said it was still negotiating to reduce the 10% rate on most other goods.

Jonathan Reynolds, British business and business secretary, said it was a historic breakthrough, but that it has only reached the general conditions that will define the process for more tariff negotiations.

The British government can declare a victory.

The agreement could be derailed before it takes effect. For the moment, however, he puts Great Britain in a better position than it was a few weeks ago. The country's automotive and acioric industries were already in difficulty, so all efforts to consolidate their ability to export to the United States, a major market, are welcome.

In addition, the agreement has not so far obliged Great Britain to cross its red lines on the reduction of its automobile or food security standards, which would have hampered an agreement with the European Union. Great Britain has not reduced its own prices on cars, as some reports had suggested. He also did not make changes to his tax on digital services, which, according to the Trump administration, had unjustly declared to the giants of American technology. This tax was introduced in 2020 according to 2% of the revenues of search engines, social media services and online markets, and most revenues come from large American companies like Amazon and Google.

The Trump administration also marked a victory, winning praise for American breeders to increase beef exports, although they should always be exempt from hormones. The National Cattlemens Beef Association described it as a huge victory.

But it is not an economic game changer.

Despite the agreement, the exports of British goods in general are still faced at higher prices that they made two months ago, the 10% price of the basic line still in place.

And British trade relations with the United States is strongly biased towards services, which are not affected by prices. Many economists have warned that even with an agreement, the British economy is vulnerable to global economic uncertainty.

The reduction of this uncertainty would require that the Trump administration obtain more transactions with other countries and makes trade policy more predictable.

Ana Swanson contributed Washington reports.

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