A new trade agreement between the Us and UK ensures economic prosperity
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On May 8, 2025, the U.K. and the U.S. announced the settlement of the U.S.-U.K. Economic Prosperity Deal (EPD), a bilateral trade agreement, making the general terms of the arrangement public.
The agreement apparently provides benefits to London on tariffs related to:
- Automotive
- Pharmaceuticals
- Steel
- Aluminum
The US secures on beef and ethanol, while 10 percent duties on British spirits will remain in place for the time being.
The general terms of the agreement emphasize, however, that “the U.S. will consider reducing the tariff rates applied to one or more British territories for which the U.K. is responsible for international relations on a preferential basis.” This could entail that further developments could follow.
It is reportedly the first such agreement since the announcement of the “partial pause” in the Trump administration's trade policy.
Photo Credit: Freepik
Source: Press release - Landmark economic deal with United States saves thousands of jobs for British car makers and steel industry
General Terms For The United States Of America And The United Kingdom Of Great Britain And Northern Ireland Economic Prosperity Deal
