Trump Secures Key Trade Agreements Ahead of Aug. 1—Here’s What to Know

Contact Your Elected Officials

More deals are expected with days until the hard trade deadline.

President Donald Trump has announced a growing list of bilateral trade agreements ahead of the Aug. 1 deadline.

So far, the deals unveiled by Trump have opened foreign market access to U.S. products and industries, addressed various nonmonetary trade barriers, and generated investment for U.S. companies.

Trump reiterated the benefits of tariffs, writing in a July 23 Truth Social post that “it would be impossible to get countries to open” without them.

Here are the trade agreements the White House has announced to date.

United Kingdom

Called the Economic Prosperity Deal, the U.S.–UK trade agreement was the first major deal since the president unveiled his sweeping global tariff agenda on April 2.

The reciprocal trade framework, announced on May 8, was described by the president as a “great deal for both countries.”

The main takeaway from the transatlantic arrangement was that the United States will keep its baseline universal 10 percent tariff on British exports. But UK trade officials also negotiated several exemptions.

Once the deal takes effect, the first 100,000 British vehicles exported annually to the United States will be subject to a 10 percent levy. Once British automakers exceed the quota, a 25 percent rate will be applied.

UK steel shipments will enjoy zero percent tariffs, averting the sectoral levy of 25 percent.

Aerospace components imported from the United States will face lower tariff rates.

In exchange, U.S. farmers will benefit from expanded access to the world’s sixth-largest economy, including $250 million in agricultural goods such as beef.

British farmers will be provided with a tariff-free quota of 13,000 metric tons of beef.

The White House also estimates that the United States will export about $700 million worth of tariff-free ethanol.

Agreement provisions will include enhanced cooperation on digital trade, intellectual property, pharmaceutical supply chains, and labor and environmental standards.

Overall, the U.S. Trade Representative’s Office projects that the new agreement will bolster bilateral trade, resulting in up to $5 billion in new U.S. exports for farmers, ranchers, and producers.

At the G7 summit of leading industrialized nations in Canada last month, Trump and UK Prime Minister Keir Starmer finalized the trade agreement.

“It’s a fair deal for both, and it produces a lot of jobs, a lot of income,” Trump said.

“And we have many, many other ones coming. But you see, the level of enthusiasm is very good, but the relationship that we have is fantastic.”

British Airways’ parent company, IAG, has also committed to purchasing planes worth almost $13 billion from the U.S. aerospace giant Boeing.

In 2024, the United States enjoyed a modest $11.9 billion goods trade surplus with the UK.

By Andrew Moran

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Government Shutdown, Health Care, Tax Breaks=Perfect Storm

The shutdown over cuts to health subsidies for the poor stems from Trump’s OBBB plan, which critics say funneled trillions to the wealthy.

3I/Atlas Comet or UFO Arrives Tomorrow!

The 3I/Atlas object is hurtling toward our solar system on a strange path and composition, set to pass behind the sun, obscuring visual and radio tracking.

‘I’d Be Finished’: Vaccine Researcher Trashes Own Study to Save Career

Most doctors comply with the system, following orders to keep their jobs, income, and prestige, even if it means setting aside independent judgment.

Kamala, Please Run Again

Kamala Harris hinted she wants to run for President in 2028, despite poor poll numbers and her loss in 2024. If she runs, the big winners will be the GOP.

Rosie O’Donnell vs. Her Therapist

Rosie O’Donnell's therapist attempted to artfully introduce to her client to the possibility that Rosie's outrage might be performative. It didn’t take.

Elon Musk Launches AI-Powered Grokipedia as Rival to Wikipedia

On Oct. 28 Elon Musk launched Grokipedia, an open-source, AI-powered encyclopedia serving as an alternative to Wikipedia.

Federal Judge Extends Order Blocking Firings During Shutdown

A federal judge on Oct. 28 indefinitely blocked the Trump administration from firing federal employees during the ongoing federal government shutdown.

Los Angeles Dethrones Chicago as ‘Rattiest’ US City

Los Angeles has dethroned Chicago as the “rattiest” U.S. city after more than a decade, becoming the new top haven for rodents.

Prediction of Climate Catastrophe Loses Some of Its Strongest Advocates

Bill Gates says the “doomsday view” of climate catastrophe is wrong, signaling a major shift in the global warming debate.

Trump, Japanese PM Sign Critical Minerals, Rare Earths Deal

The U.S. president visited Tokyo on the second leg...

Trump Hikes Canada’s Tariffs by 10 Percent for Not Pulling Anti-Tariff Ad Immediately

Trump announced he will increase tariffs on Canada by 10% after ad by provincial government of Ontario misrepresented President Reagan’s speech on tariffs.

Trump Rolls Back Emissions Rules on Copper Smelters

President Trump issued a proclamation aimed at reversing a Biden-era environmental rule that enforced stricter air emission standards on copper smelters.

Donor Gives $130 Million to Cover Shortfall in Troop Pay During Shutdown

Trump announced on Oct. 23 that an anonymous donor sent $130M to cover military pay during the ongoing government shutdown.
spot_img

Related Articles

Popular Categories

MAGA Business Central