United States, Britain announce trade deal

May 8 (UPI) -- President Donald Trump announced Thursday that a trade deal has been reached with Britain.

With British Prime Minister Sir Keir Starmer on speakerphone, Trump spoke while seated at the Resolute Desk as Vice President JD Vance and Cabinet member flanked him on both sides.

Trump first noted the long-standing alliance between the two countries, and how the deal coincidentally was reached on VE Day, then explained the aspects of the agreement.

He explained that billions of dollars of American exports including agricultural products will be fast-tracked through British customs and "there won't be any red tape."

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The United States will also gain market access for its industrial products, and "the deal includes plans that will bring the United Kingdom into the economic security alignment with the United States," which Trump explained, "is the first of its kind."

He further said that both countries have agreed to work together to create a "strong, industrial base, appropriate export controls and protections for key technologies for industries like steel," and "things necessary for the military."

Trump then gave the floor to Starmer, who also opened his comments with tribute to the long-standing relationship between the countries. He then praised the deal as "really important" and will "boot trade between in and across our countries, and not only protect jobs but create jobs," then moved back into heavy praise of the rapport between the United States and the United Kingdom before he ended the call to speak with the British press.

Trump then asked Secretary of Commerce Howard Lutnick to speak, and he added to the information about the agricultural exports will add $5 billion of opportunity to American exporters." He also said the 10% blanket tariff still stood, which "will produce $6 billion dollars of revenue for the United States."

Lutnick said that Britain gained security for its workers with this deal, as while cars built outside the United States face a 25% tariff, Trump "agreed [Britain] could send 100,000 cars into America and only pay a 10% tariff, and that protects their car industry," and would result in "tens of thousands of jobs." He also says airplanes and Rolls Royce can be exported from the U.K. at no tariff.

Trump posted a summarized version of the announcement to his Truth Social account Thursday, that said "Together with our strong ally, the United Kingdom, we have reached the first, historic trade deal since Liberation Day. as part of this deal, America will raise $6 billion dollars in external revenue from 10% tariffs, $5 billion dollars in new export opportunities for our great ranchers, farmers, and producers, and enhance the national security of both the U.S. and the UK through the creation of an aluminum and steel trading zone, and a secure pharmaceutical supply chain. This deal shows that if you respect America, and bring serious proposals to the table, America is open for business."