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US/UK Trade deal

(55 Posts)
Wyllow3 Thu 08-May-25 14:46:08

Announcements are imminent. Trump will announce first. But there is a salutary warning:

But there is a notable difference in how the UK and the US have been describing this arrangement

The chancellor told me about an "economic and prosperity deal" but the president calls this a "major trade deal

This difference has been there since Keir Starmer met the president in the Oval Office.

What to look out for - it does seem modest

The narrow scope appears to have meant some consideration of lower tariffs for US exports of cars to the UK (from 10% to 2.5%).
In return, the UK could win some sort of tariff-free or lower tariff quota exemption from the 25% tariffs on cars. This is the UK’s biggest goods export. The generosity or not of this depends entirely on the number agreed.

Something similar could apply in steel.

The big problem was pharmaceuticals. The president has not announced his trade restrictions on medicines yet. The danger was for the UK to agree a deal, but then be hit by a subsequent global tariff on its second most important goods export

And there are still concerns about any trade deal being aid in with the NHS.

Several sources are following events as they happen including BBC

www.bbc.co.uk/news/live/cn91dxzv4pnt?post=asset%3Ad1f519b8-2927-486e-9592-19a877eeca4c#post

Wyllow3 Sat 10-May-25 19:32:18

How much to wager that tomorrows' DM or Express picks up on this meme....

Casdon Sat 10-May-25 19:25:37

Sorry Wyllow3, it was the only media article I could find written recently that supported that there had been any recent discussion about UK rejoining the EU.

Wyllow3 Sat 10-May-25 19:04:05

It's behind a paywall Casdon so I cant see how they are justifying their claim of "stealth" joining, just because we are talking security and trade.

Casdon Sat 10-May-25 17:50:51

Wyllow3

It's a mini deal compared with the benefits of a better trade relationship with the EU.
What are these "recent rumours"? I've seen none. Starmer has never proposed a return to the EU, just always trade, customs, security deals. We have lost a lot of trade with the EU, more than gained just now with the US.

Perhaps the ‘recent rumours’ come from here, the bastion of scare the horses journalism.
www.telegraph.co.uk/business/2025/05/04/all-the-ways-labour-is-rejoining-the-eu-by-stealth/

MayBee70 Sat 10-May-25 16:02:56

I think Starmer and I seem to have followed the same path regarding Brexit. He took part in the people’s vote marches as did I. But I then became resigned to the fact that rejoining was out of the question and felt we had to move forward; at the same time repairing the damage to our relationship with our closest trading partners.

Whitewavemark2 Sat 10-May-25 10:09:06

Which I am confident will not happen given the importance Starmer is placing on closer ties with the EU.

David49 Sat 10-May-25 10:06:11

“If we were still in the EU this deal would not have happened. Hopefully this will put a stop to the recent rumours of Sir Keir Starmer keen to rekindle a relationship with the EU.”

It couldn’t have happened we didn’t do individual trade deals.

Now we do have to be careful that US imports do meet our standards, which are equivalent to EU standards, the original Brexit policy was to diverge from EU but that hasn’t happened.
If we are to “move closer” then standards need to be the same, that a long way from any kind of serious integration with EU.

Wyllow3 Sat 10-May-25 09:59:17

It's a mini deal compared with the benefits of a better trade relationship with the EU.
What are these "recent rumours"? I've seen none. Starmer has never proposed a return to the EU, just always trade, customs, security deals. We have lost a lot of trade with the EU, more than gained just now with the US.

Whitewavemark2 Sat 10-May-25 09:46:26

Sarnia

MayBee70

Sarnia

Thank goodness for Brexit. I'll get my coat................

Thank goodness we have a PM who has years of experience in negotiating with difficult people.

If we were still in the EU this deal would not have happened. Hopefully this will put a stop to the recent rumours of Sir Keir Starmer keen to rekindle a relationship with the EU.

There is of course a reason for that from which every member benefits.

Grantanow Sat 10-May-25 09:46:07

Starmer has done well. It's a good start with the US and doesn't undermine working with the EU. The deal with India is also a good start. Badenoch is clutching at straws when complaining about no tax on Indian expats. We already have no double taxation agreements with about 50 countries mostly agreed under Tory government's.

David49 Sat 10-May-25 09:37:59

“David it was made absolutely clear and specific that food imports have to meet our standards, I don't know why you have put a ? over it. I don't actually understand the need to "Swap" beef across the pond really but presume its specialist top of the range products.”

I thought most realized that the exact specification of beef (or chicken) imports has not yet been clarified, hence the “?”

Most of the beef imports into the UK go into the catering industry, not supermarket shelves

MayBee70 Fri 09-May-25 17:55:00

I was chatting to someone the other day that used to work on a radio news programme and when I asked him of any Brexit benefits he said the only one he knew of was if you committed a driving offence in the EU the DVLC no longer bothered to follow it up….

Casdon Fri 09-May-25 17:16:09

Sarnia

MayBee70

Sarnia

Thank goodness for Brexit. I'll get my coat................

Thank goodness we have a PM who has years of experience in negotiating with difficult people.

If we were still in the EU this deal would not have happened. Hopefully this will put a stop to the recent rumours of Sir Keir Starmer keen to rekindle a relationship with the EU.

You’re way off the mark Sarnia, sorry. We need the 18% of EU trade we have lost, they are our neighbours, and deals with other countries is not going to change that.

MayBee70 Fri 09-May-25 17:08:50

Sarnia

MayBee70

Sarnia

Thank goodness for Brexit. I'll get my coat................

Thank goodness we have a PM who has years of experience in negotiating with difficult people.

If we were still in the EU this deal would not have happened. Hopefully this will put a stop to the recent rumours of Sir Keir Starmer keen to rekindle a relationship with the EU.

The governor of the Bank of England has said the UK now needs to "rebuild" its trade relationship with the European Union and do "everything we can" to improve long-term trade, after Thursday's US deal.

Andrew Bailey told the BBC that as a public official he did not take a view on Brexit, but that reversing the post-Brexit hit to UK-EU trade would be "beneficial".

The government is currently in talks with the EU on its plan to reset its trade and security relationship ahead of a summit later this month.

The US deal has left space for the UK to pursue a veterinary agreement with the EU, including alignment on standards in order to lower post-Brexit red tape on food, farm and fish exports.

As part of a new agreement between the US and the UK, the White House agreed to reduce import taxes on a set number of British cars and allow some steel and aluminium into the country tariff-free.

But it will leave a 10% duty in place on most goods from the UK.

Pushed on what impact a closer relationship between the UK and the EU would have on the economy and inflation, Mr Bailey said: "It would be beneficial - having a more open economy to trade with the European Union. Because there has been a fall-off in goods trade with the EU over recent years."

He added that it mattered because the EU is the UK's largest trading partner.

"It is important we do everything we can to ensure that whatever decisions are taken on the Brexit front do not damage the long-term trade position. So I hope that we can use this to start to rebuild that relationship," Mr Bailey said.

The governor also said that the UK's deal-making across the world was setting an important example to other countries.

"It demonstrates that trade deals are important. Trade deals can be done, and the trade is important.

"Honestly, it seems an unpromising landscape at times. But I hope that we can use these deals to rebuild the world trading system," he said.

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Galaxy Fri 09-May-25 16:13:10

I actually don't mind Starmers 'pandering to Trumps vanity', there are all sorts of uncomfortable things we have to do in terms of international relations, I would say that is the least of my worries.
I disagree fundamentally with some of Starmers domestic decisions, but think internationally he is doing well.

keepingquiet Fri 09-May-25 16:12:29

Of course it won't! It is a small fish comapred to the big pond of European trade.

The publicity and razzmatazz over this was sickening yesterday- we didn't have the same fuss over the recent trade deal with India for example.

For one I am so glad the conclave got on with it and elected a pope or there would have been no end to this over-blown news story.

Sarnia Fri 09-May-25 16:04:39

MayBee70

Sarnia

Thank goodness for Brexit. I'll get my coat................

Thank goodness we have a PM who has years of experience in negotiating with difficult people.

If we were still in the EU this deal would not have happened. Hopefully this will put a stop to the recent rumours of Sir Keir Starmer keen to rekindle a relationship with the EU.

MayBee70 Fri 09-May-25 15:57:11

Sarnia

Thank goodness for Brexit. I'll get my coat................

Thank goodness we have a PM who has years of experience in negotiating with difficult people.

Wyllow3 Fri 09-May-25 15:54:21

MaggsMcG that issue worries a lot of us. I have always felt that no country should put tariffs on pharmaceuticals. It is currently unresolved. We want to do a deal but it has to work for us too.

(I can't quite understand holding Starmer responsible for a situation where the US has imposed a tariff of 10% not us?)

There are also no suggestions that the USA will "up the 10%" already imposed.......

as after all, the medical sector in the US will now have to pay 10% extra on all UK Pharma products, its not us paying extra.

Sarnia Fri 09-May-25 15:52:41

Thank goodness for Brexit. I'll get my coat................

Allira Fri 09-May-25 15:51:10

Mollygo

But it’s always been difficult to get English cheeses in France, Belgium, Holland, Italy and Germany for as long as I’ve been travelling to Europe.
We always took our English cheese with us to gîtes we stayed in because some of the party, didn’t like European cheeses and apart from the occasional cheddar, English cheese was rare.
For the other things, we’ve had no problems so far, but maybe it’ll be different when we’re on the continent this year.

The UK dairy export industry is witnessing a significant boom, reaching £1.8 billion in 2024, largely fueled by heightened demand from the European Union and the United States, according to the Agriculture and Horticulture Development Board (AHDB).

Specifically, cheese exports have surged to their highest level since 2020, valued at £887 million, with the EU receiving 72% of these exports, representing an almost 10% increase from the previous year.
Read more at © DairyNews.today dairynews.today/news/uk-cheese-exports-reach-highest-level-since-2020.html

mokryna Fri 09-May-25 15:45:17

GrannyGravy13

Last line of my post?

We have family in three EU countries, they are able to buy U.K. goods.

The U.K. definitely exports to the EU

What do English people living in France after many years buy from the UK? My problem is that on the web it says Lea &Perrins Worcestershire Sauce can be bought at the three local French supermarkets that are in walking distance of where I live, however, unfortunately, this particular sauce has been out of stock for many, many months. Heinz is no substitute, too sweet. Oh and there are no oxoes.
Fresh fruit and vegetables are in abundance as well as good meat.
I do recommend to my English visitors to bring their breakfast cereals as, although they are the same brand they not the same taste/texture. I buy Quaker porridge oats but I do miss Lea & Perrins Worcestershire Sauce.

LizzieDrip Fri 09-May-25 15:44:44

Nicolenet

Looking up chlorinated chicken recipes! Gnamie

Why????

MaggsMcG Fri 09-May-25 15:31:16

The pharmaceutical issue worries me a lot. So does the NHS.
My granddaughter and a lot of others rely on a USA developed medication which is expensive even now. If the Orange Clown puts an even higher tariff on it its at risk. Ironic thing is if they don't get this medication they will all end up on PIP and Sickness Benefits because their health will deteriorate. Starmer is ridiculous already his party never looks at the long term effects of their so called solutions.

Nicolenet Fri 09-May-25 14:14:36

Looking up chlorinated chicken recipes! Gnamie