AMERICAS OIL: Trump And Starmer Tout "Breakthrough" US-UK Trade Deal
May-08 15:14
[TARIFFS] Trump And Starmer Tout "Breakthrough" US-UK Trade Deal:
US President Donald Trump, speaking at the Oval Office: https://www.youtube.com/watch?v=j2dTaFl9nM0 alongside UK Prime Minister Sir Keir Starmer on a telephone link, have touted a new trade agreement characterised by Trump as the "first in a series of agreements on trade" that the administration has been negotiating over the "past four weeks."
- Trump describes the deal with the UK as a "breakthrough trade deal" and says the UK's participation affirms that "reciprocity and fairness is an essential and vital principle of international trade."
- Trump claims that the agreement facilitates 'billions of dollars of increased market access" for US exports, "especially in agriculture... [that covers] virtually all products" produced by US farmers.
- Trump says the "final details are being written up in the coming weeks", suggesting that the UK deal is a framework that could be used as a template for other countries rather than a comprehensive trade agreement.
- Trump and Commerce Secretary Howard Lutnick note that steel was a big factor in the agreement, citing the UK decision to nationalise British Steel as a pillar of the deal.
- At the top of the remarks, Trump noted that the 'rare earth deal' with Ukraine is now "fully approved and ratified" by the Ukrainian parliament. He adds that he will speak with Ukrainian President Voldymyr Zelenskyy "in a little while". Trump says the US now has "access to a massive amount of very high quality rare earth."
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