US President Donald Trump and British Prime Minister Keir Starmer on May 8 announced that both nations had reached a "breakthrough" trade deal which will leave in place a 10% tariff on goods imported from the UK while Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to US goods.
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00:00You sound great.
00:01I just want to begin by saying that this is a very special day.
00:06And just by happenstance, we have the Prime Minister on the phone, and we were great allies.
00:13Thank you, Mr. President Donald.
00:15And this is a really fantastic historic day in which we can announce this deal between our two great countries.
00:24With the sixth largest economy, we've agreed to have fair reciprocal trade, and we've done it in record time.
00:30With this deal, the UK joins the United States in affirming that reciprocity and fairness is an essential and vital principle of international trade.
00:40The deal includes billions of dollars of increased market access for American exports, especially in agriculture,
00:47dramatically increasing access for American beef, ethanol, and virtually all of the products produced by our great farmers
00:57and our secretary, as you know, of agriculture is here, Brooke.
01:01Thank you very much for being here.
01:03Thank you. Thank you, sir.
01:04You'll let the farmers know.
01:06In addition, the UK will reduce or eliminate numerous non-tariff barriers that unfairly discriminated against American products.
01:15But this is now turning out, I think, really to be a great deal for both countries,
01:18because it'll be really great for the UK also.
01:21So they're opening up the country.
01:24Their country is a little closed, and we appreciate that.
01:28Furthermore, in a historic step, the deal includes plans that will bring the United Kingdom
01:33into the economic security alignment with the United States.
01:38That's the first of its kind.
01:39So we have a big economic security blanket, and that's very important.
01:44And we feel very, very comfortable with that, because it's been a great ally, truly one of our great allies.
01:51Thank you, Mr. President.
01:53Reagan Reese with The Daily Caller.
01:54How close are you to more deals, and when do you expect the next to be announced?
01:58Well, very close.
01:59We have numerous deals.
02:00I know Howard's going back.
02:02As soon as this is finished, your press conference, he's got numerous.
02:05And Scott, who's right over here, who's fantastic, by the way, you were great on television this morning.
02:11I watched you.
02:12You gave them a little lesson in the world in economics.
02:15But Scott's going to be going to Switzerland, meeting with China.
02:21And, you know, they very much want to make a deal.
02:24We can all play games.
02:26Who made the first call?
02:27Who didn't make the first?
02:28It doesn't matter.
02:29It only matters what happens in that room.
02:31But I will tell you that China very much wants to make a deal.
02:35We'll see how that works out.
02:37Every country throughout the last 40, 50 years has literally ripped off the United States on trade, on military, on protection, on all the different things.
02:47And we are now making fair deals.
02:50And in this case, it's great because we really weren't very much involved.
02:55This one just went very smoothly, went quickly and smoothly.
02:58And a lot of common sense, as I like to say.
03:01It's tremendous common sense.
03:03But it's going to make your country much bigger in terms of trade.
03:06And it's going to make our country much bigger in terms of trade, too.
03:09I think so.
03:09I'm with the London Times.
03:11I would say this is a great day for James Bond because now Aston Martins will be available to America.
03:17But even better by extending it to film.
03:20You've talked about a big tariff on films.
03:23And we'd like to know if there'd be relief on British.
03:25Well, we're going to have a discussion on that separately.
03:28And as you know, we're putting tariffs on that particular film, he said, the movie makers.
03:34And we're going to be doing some tariffs to get them because a lot of them have left this country.
03:41They all live here.
03:42The money comes from here.
03:43Everything comes from here.
03:44But they make them in other countries.
03:45So we're going to do something to bring them back, maybe to a large extent.
03:51But James Bond has nothing to worry about that, I can tell you.
03:55James Bond.
03:55And, you know, Sean Connery was a friend of mine.
03:57Sean Connery was responsible for my getting zoning in Aberdeen.
04:01He said, let the bloody bloke build his golf courses.
04:04I was like four years into the process, and it was impossible in Aberdeen.
04:11And he, I don't know, he just stood up one day and he said that.
04:14As soon as he said that, I got the approvals in about two minutes.
04:18So he had great, he was a great guy, Sean Connery, and great character.
04:22I'm delighted to welcome you to say a few words.
04:28Welcome to you.
04:29And I'm really pleased to announce to you, and I wanted to come to you to announce that,
04:38that we've agreed the basis of a historic economic prosperity deal.
04:44And that is a deal that will protect British businesses and save thousands of jobs in Britain.
04:51Really important, skilled, well-paid jobs.
04:54It will remove tariffs of British steel and aluminium, reducing them to zero.
05:02It will provide vital assurances for our life sciences sector, so important to our economy.
05:09And grant unprecedented market access for British farmers without compromising our high standard.
05:16And we've got scope now to increase that quota as we go forward.
05:20So this is not fixed.
05:21This is where we've got to, and all of these tariff cuts will come into place as soon as possible.
05:27And that's really important as well in relation to the work that you're doing and the brilliant costs that you make.
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