Trump announced his first trade contract with the United Kingdom. There is something here.

President Trump announced his first contract on Thursday after the global trade war began. He unveiled a limited agreement with the UK to lower the barriers of some products, such as automobiles and agriculture, and left many details that have not yet been resolved.

Trump said at the elliptical office on Thursday that “a tremendous trade deal is a tremendous trade deal.” British Prime Minister Keir Starmer added by the British Prime Minister, who joined the event.

“The final details are being recorded,” Trump added.

The main change in the opening is the adjustment of the 10% tariffs that Trump imposed on almost every country in the world. The mission must stay in place on Thursday that the president will see at least 10 percent and repeat that other countries will face much higher tasks.

President Trump will present a trade presentation at the elliptical office. (Jim Watson/AFP through Getty Images) Jim Watson through Getty Images

The core of this transaction is in essence that the British reduces the US obligations on major sectors. According to the release of the UK, the US tariff on steel on steel made by the UK will drop from 25%to 0%, and automobile exports are expected to decrease from 27.5%to 10%.

In return, Prime Minister STARMER is providing concessions to open more US automotive markets in things such as US automobiles, ethanol, machinery and agricultural products and to provide negotiations on so -called digital service taxes that have faced US technology companies.

In one example, the UK will completely eliminate the tariffs of ethanol.

In fact, the White House insisted on a “unprecedented” approach to the British market, which shows $ 5 billion in new exports.

Trump also said the contract included a simplified tariff procedure for US exports and a new economic national security measure. Lutnick added that BOEING is expected to buy a new UK airport engine as part of this transaction.

More Reading: Latest News and Updates for Trump Target

But the questions without answers were rich.

For example, Trump focused on exports to US beef at his opening ceremony, but he admitted that the British would not change the weak beef standards that were much larger than other problems such as tariffs.

Trump said about beef exports, “I think they will do what they want.”

London's release explained that it focused on approaching new mutual markets, including quota without new tariffs for British farmers.

The story continues

The contract to reduce US car tariffs to 10%is only applied to the first 100,000 units imported by a British automaker. The British government pointed out that this figure is almost the same as the total export exported last year.

Another part of the negotiations was related to DIST (Digital Services Taxes), which affects US technology companies operating elsewhere and other places. This issue was briefly mentioned during the announcement, but Trump Trade Councilor Peter Peter (Peter Navarro) said that this problem is “still negotiated” but “a very big deal for President Trump.”

The British government added, “The work will continue in the rest of the sectors, such as pharmacists and remaining mutual tariffs.”

President Trump held a two -country meeting with British Prime Minister Keir Starmer at the White House on February 27.

The announcement was optimistic that investors could ease Trump's trade war, which was enough to push US stocks higher on Thursday.

But others were more cautious about the announcement income.

Henrietta Treyz of Veda Partner predicted during the Yahoo Finance Live appearance.

She was good for organizations like British automakers, but “there is a much larger piece of this pie.”

More Reading: Trump's tariffs mean to the economy and wallet.

Overall, the United Kingdom spared no longer Trump's most intensive action. According to a recent Yale Budget Lab report, the UK economy is expected to increase 0.2% in the long run due to tariffs so far, while other countries such as Canada and China are expected to be hit and negative.

Today's announcement was Starmer's second trade victory, which won a new trade agreement with India earlier this week.

Another response to some of the announcements of the financial community included skepticism about how extensive the agreement would be.

WEDBUSH's DAN IVES called this announcement as “the beginning of a baby stage to get some transactions/frameworks in the table.” “Reality and especially technical investors will see this presentation as a John.

Terry Haines of the Pangea policy says, “The existence of today's transaction is more important than any details, because Trump will proceed with the deal because it checks the basic things that are boring and patient.”

In fact, the mayor will see another trade talks this weekend when two Trump assistants travel to Switzerland and start a conversation with China.

Trump also predicted that “we will have a very good weekend.” He provided optimism that he would be able to progress for the next few days, and in connection with the tariff, when the conversation progressed well, “I know that it is coming down because you can't get higher.”

This post has been updated.

Ben Werschkul is a Washington correspondent in Yahoo Finance.

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