<div dir="auto">US President Donald Trump and British Prime Minister Keir Starmer on May 08 announced that the two nations have reached a &lsquo;historic agreement&rsquo;, the first such deal since the implementation of reciprocal tariffs by Trump.&nbsp;</div>
<div dir="auto"></div>
<div dir="auto">While briefing the media at the White House, Donald Trump said, "This morning I am thrilled to announce that we have reached a trade deal with the UK. Today is the Victory Day for World War II, we won together exactly 80 years ago, so there could be no more perfect morning to reach this historic agreement."</div>
<div dir="auto"></div>
<div dir="auto">The White House said that the limited bilateral trade agreement (BTA) will bring in $6 billion in external revenue from its 10-per cent tariffs on British exports, which remains in place, and it would also bring in $5 billion in new export opportunities for the United States. The agreement would lead to more beef and ethanol exports to the UK, and it will also streamline the processing of US goods through customs.&nbsp;</div>
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<div dir="auto">The UK on the other hand has agreed to lower its tariffs to 1.8 per cent from 5.1 per cent and provide greater access to US goods. The deal seeks to double trade between the two nations to $120 billion by 2030.</div>
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<div dir="auto">No concrete information was provided by the two countries, and the final details of the deal are yet to be fleshed out. &ldquo;The final details are being written up,&rdquo; Trump said. &ldquo;In the coming weeks, we&rsquo;ll have it all very conclusive.&rdquo;</div>
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<div dir="auto">The US runs a trade surplus with the UK, which makes it easier to find common ground, as Trump has staked his tariffs on specifically eliminating the annual trade deficits with its trade partners that he says have taken advantage of the US. Trump also downplayed the UK deal as template for other trade negotiations, he suggested that other countries may end up with much higher rates as they enjoy a huge US trade surplus.</div>
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<div dir="auto">US total goods trade with the UK was estimated at $148.0 billion in 2024. US goods exports to the UK in 2024 were $79.9 billion, up 7.6 per cent ($5.6 billion) from 2023, while US goods imports from the United Kingdom totalled $68.1 billion in 2024, up 6.0 per cent ($3.9 billion) from 2023. The US goods trade surplus with the UK was $11.9 billion in 2024.</div>
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<h2 dir="auto">Unresolved issues</h2>
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<div dir="auto">The trade framework grants the US greater market access and a quicker customs process for exports to the UK, while the UK receives limited relief on duties for cars, steel, and aluminium. However, many aspects of the deal are still to be negotiated.</div>
<div dir="auto"></div>
<div dir="auto">Trump had imposed an additional 25 per cent tariff on cars and auto parts from the UK, on top of the existing 2.5 per cent. Under the new deal, UK car manufacturers can export the first 100,000 vehicles to the US each year at a reduced 10 per cent tariff, but any additional vehicles will be subject to a 27.5 per cent rate. Since cars are the UK's largest export to the US&mdash;approximately worth $ 11.9 billion last year&mdash;this could significantly affect the UK's auto industry.</div>
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<div dir="auto">The UK will maintain its digital services tax, which is a concern for US tech giants, with only a vague commitment to work on a future digital trade agreement. Additionally, the two countries have yet to reach a resolution on Trump's plans for sweeping pharmaceutical tariffs. While the UK has removed tariffs on certain US agricultural goods, strict food regulations remain in place.</div>
<div dir="auto"></div>
<div dir="auto">There were also discrepancies in the statements made by the US and UK regarding some key aspects of the deal. The UK government said that US tariffs on steel and aluminium from the UK would be eliminated, but the White House less than an hour later stated that they would "negotiate an alternative arrangement" for these duties, and that the framework establishes a new "trading union" for these materials.</div>
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<h2 dir="auto">Market reaction</h2>
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<div dir="auto">Trump&rsquo;s first trade agreement since April 2 sparked a surge on Wall Street, with major US indexes climbing more than 1 per cent at one point. The S&amp;P 500's passenger airlines index rose 5.4 per cent, driven by a 7.2 per cent increase in Delta Air Lines stock, following US Commerce Secretary Howard Lutnick's announcement that British-made Rolls-Royce engines would be imported into the US duty-free.</div>
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<div dir="auto">The Nasdaq Composite gained 1.07 per cent, while the S&amp;P 500 and Dow Jones both saw increases of around 0.6 per cent.</div>
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<div dir="auto">Trump's administration had been facing pressure from investors to finalise deals and ease trade tensions, as his often-unpredictable policy decisions had disrupted global trade, creating risks of inflation and potentially pushing both the US and global economies toward a recession.</div>

Business & Economy: The US tariffs on British exports remain 10 per cent, while the UK has agreed to lower its tariffs to 1.8 per cent and provide more access to US goods

US President Donald Trump and British Prime Minister Keir Starmer on May 08 announced that the two nations have reached a ‘historic agreement’, the first such deal since the implementation of reciprocal tariffs by Trump. While briefing the media at the White House, Donald Trump said, "This morning I am thrilled to announce that we have reached a trade deal with the UK. Today is the Victory Day for World War II, we won together exactly 80 years ago, so there could be no more perfect morning to reach this historic agreement." The White House said that the limited bilateral trade agreement (BTA) will bring in $6 billion in external revenue from its 10-per cent tariffs on British exports, which remains in place, and it would also bring in $5 billion in new export opportunities for the United States. The agreement would lead to more beef and ethanol exports to the UK, and it will also streamline the processing of US goods through customs. The UK on the other hand has agreed to lower its tariffs to 1.8 per cent from 5.1 per cent and provide greater access to US goods. The deal seeks to double trade between the two nations to $120 billion by 2030. No concrete information was provided by the two countries, and the final details of the deal are yet to be fleshed out. “The final details are being written up,” Trump said. “In the coming weeks, we’ll have it all very conclusive.” The US runs a trade surplus with the UK, which makes it easier to find common ground, as Trump has staked his tariffs on specifically eliminating the annual trade deficits with its trade partners that he says have taken advantage of the US. Trump also downplayed the UK deal as template for other trade negotiations, he suggested that other countries may end up with much higher rates as they enjoy a huge US trade surplus. US total goods trade with the UK was estimated at $148.0 billion in 2024. US goods exports to the UK in 2024 were $79.9 billion, up 7.6 per cent ($5.6 billion) from 2023, while US goods imports from the United Kingdom totalled $68.1 billion in 2024, up 6.0 per cent ($3.9 billion) from 2023. The US goods trade surplus with the UK was $11.9 billion in 2024. Unresolved issues The trade framework grants the US greater market access and a quicker customs process for exports to the UK, while the UK receives limited relief on duties for cars, steel, and aluminium. However, many aspects of the deal are still to be negotiated. Trump had imposed an additional 25 per cent tariff on cars and auto parts from the UK, on top of the existing 2.5 per cent. Under the new deal, UK car manufacturers can export the first 100,000 vehicles to the US each year at a reduced 10 per cent tariff, but any additional vehicles will be subject to a 27.5 per cent rate. Since cars are the UK's largest export to the US—approximately worth $ 11.9 billion last year—this could significantly affect the UK's auto industry. The UK will maintain its digital services tax, which is a concern for US tech giants, with only a vague commitment to work on a future digital trade agreement. Additionally, the two countries have yet to reach a resolution on Trump's plans for sweeping pharmaceutical tariffs. While the UK has removed tariffs on certain US agricultural goods, strict food regulations remain in place. There were also discrepancies in the statements made by the US and UK regarding some key aspects of the deal. The UK government said that US tariffs on steel and aluminium from the UK would be eliminated, but the White House less than an hour later stated that they would "negotiate an alternative arrangement" for these duties, and that the framework establishes a new "trading union" for these materials. Market reaction Trump’s first trade agreement since April 2 sparked a surge on Wall Street, with major US indexes climbing more than 1 per cent at one point. The S&P 500's passenger airlines index rose 5.4 per cent, driven by a 7.2 per cent increase in Delta Air Lines stock, following US Commerce Secretary Howard Lutnick's announcement that British-made Rolls-Royce engines would be imported into the US duty-free. The Nasdaq Composite gained 1.07 per cent, while the S&P 500 and Dow Jones both saw increases of around 0.6 per cent. Trump's administration had been facing pressure from investors to finalise deals and ease trade tensions, as his often-unpredictable policy decisions had disrupted global trade, creating risks of inflation and potentially pushing both the US and global economies toward a recession.

US-UK trade deal: What’s really on the table for both nations?

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<p>The United States and the United Kingdom along with Canada, Australia and New Zealand urged Hong Kong to hold elections as soon as possible and have warned the authorities about the moves to "undermine the democratic process".&nbsp;&nbsp;</p>

<p><strong>Also read:&nbsp;</strong><a href="https://www.wionews.com/world/us-begins-highest-level-taiwan-visit-in-decades-319231" hreflang="en">US begins highest level Taiwan visit in decades</a></p>

<p>Their statement comes after Chinese lawmakers convened to decide on the next steps after the election in the semi-autonomous city were postponed by a year due to coronavirus pandemic.&nbsp;</p>

<p>The foreign ministers of the five countries have shown their "grave concern" towards Hong Kong government’s unjust disqualification of candidates and disproportionate postponement of Legislative Council elections.&nbsp;</p>

<p>"These moves have undermined the democratic process that has been fundamental to Hong Kong’s stability and prosperity."</p>

<p>They urged "the Hong Kong government to hold the elections as soon as possible".&nbsp;</p>

<p>According to Hong Kong's current chief executive Carrie Lam, it would be logical to extend the term of the legislature at present. But the question remains on the four opposition lawmakers who have been disqualified from seeking re-election for breaching the new security law bill. These lawmakers were disqualified after calling for international sanctions on Beijing and Hong Kong.&nbsp;</p>

<p>The foreign ministers of the five nations, in a statement, urged for the disqualified legislators to be reinstated.&nbsp;</p>

<p>The joint statement from the five countries that share intelligence under the "Five Eyes" partnership said the security law was "eroding the Hong Kong people’s fundamental rights and liberties.</p>

<p>"We support the legitimate expectations of the people of Hong Kong to elect Legislative Council representatives via genuinely free, fair, and credible elections," they added.</p>

<p>On Friday, the United States imposed sanctions on a group of Chinese and Hong Kong officials, including Carrie Lam, involved in enforcing the highly controversial security law.</p>

<p><em>(Inputs from AFP)</em></p>


The United States and the United Kingdom along with Canada, Australia and New Zealand urged Hong Kong to hold elections as soon as possible and have warned the authorities about the moves to "undermine the democratic process".

The United States and the United Kingdom along with Canada, Australia and New Zealand urged Hong Kong to hold elections as soon as possible and have warned the authorities about the moves to "undermine the democratic process". Also read: US begins highest level Taiwan visit in decades Their statement comes after Chinese lawmakers convened to decide on the next steps after the election in the semi-autonomous city were postponed by a year due to coronavirus pandemic. The foreign ministers of the five countries have shown their "grave concern" towards Hong Kong government’s unjust disqualification of candidates and disproportionate postponement of Legislative Council elections. "These moves have undermined the democratic process that has been fundamental to Hong Kong’s stability and prosperity." They urged "the Hong Kong government to hold the elections as soon as possible". According to Hong Kong's current chief executive Carrie Lam, it would be logical to extend the term of the legislature at present. But the question remains on the four opposition lawmakers who have been disqualified from seeking re-election for breaching the new security law bill. These lawmakers were disqualified after calling for international sanctions on Beijing and Hong Kong. The foreign ministers of the five nations, in a statement, urged for the disqualified legislators to be reinstated. The joint statement from the five countries that share intelligence under the "Five Eyes" partnership said the security law was "eroding the Hong Kong people’s fundamental rights and liberties. "We support the legitimate expectations of the people of Hong Kong to elect Legislative Council representatives via genuinely free, fair, and credible elections," they added. On Friday, the United States imposed sanctions on a group of Chinese and Hong Kong officials, including Carrie Lam, involved in enforcing the highly controversial security law. (Inputs from AFP)

US, UK along with allies urge Hong Kong to hold elections as soon as possible

<p>China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told British lawmakers on Tuesday.</p>

<p><strong>Also read:&nbsp;</strong><a href="https://www.wionews.com/world/us-president-trump-poses-for-cameras-with-bible-in-hand-amid-riots-302684" hreflang="en">US President Trump poses for cameras with bible in hand amid riots</a></p>

<p>Cotton is one of several members of the U.S. Congress who have sought to put pressure on Britain to reverse its January decision to give China's Huawei a limited role in building Britain's 5G networks.</p>

<p>"It is my hope that the special relationship remains strong although I fear China is attempting to drive a hi-tech wedge between us using Huawei," Cotton told the British parliament's defence committee.</p>

<p>The United States has raised security concerns about Huawei equipment, saying it could be used to steal Western secrets, and has warned that allies that use it in their networks risked being cut off from valuable intelligence sharing. Huawei has repeatedly denied the U.S. allegations.</p>

<p>Huawei Vice President Victor Zhang said: "It's clear that market position, rather than security concerns, is what underpins America's attack on Huawei. The committee was given no evidence to substantiate security allegations."</p>

<p>Britain has said Huawei's involvement will be capped at 35% and it will be excluded from the network's sensitive core.</p>

<p>Last month, the Daily Telegraph newspaper reported that, in the wake of the coronavirus crisis, Prime Minister Boris Johnson had asked officials to plan to reduce China's involvement in British 5G infrastructure to zero by 2023.</p>

<p>"I do hope that as the government refines its decision, that if it doesn’t reverse it outright, it will mitigate it and minimise the use of Huawei technology, put it on a shorter time frame," Cotton said.</p>

<p>"I would welcome that decision to go to zero by 2023 and I would urge you to try and do so even sooner."</p>

<p>Since Britain's decision on Huawei, relations between London and Beijing have grown tense over the situation in Hong Kong.</p>

<p>On Tuesday, Britain said Beijing should step back from introducing a national security law in Hong Kong which it said was in breach of the 1984 agreement marking the handover of its former colony to China.</p>


China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told British lawmakers on Tuesday.

China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told British lawmakers on Tuesday. Also read: US President Trump poses for cameras with bible in hand amid riots Cotton is one of several members of the U.S. Congress who have sought to put pressure on Britain to reverse its January decision to give China's Huawei a limited role in building Britain's 5G networks. "It is my hope that the special relationship remains strong although I fear China is attempting to drive a hi-tech wedge between us using Huawei," Cotton told the British parliament's defence committee. The United States has raised security concerns about Huawei equipment, saying it could be used to steal Western secrets, and has warned that allies that use it in their networks risked being cut off from valuable intelligence sharing. Huawei has repeatedly denied the U.S. allegations. Huawei Vice President Victor Zhang said: "It's clear that market position, rather than security concerns, is what underpins America's attack on Huawei. The committee was given no evidence to substantiate security allegations." Britain has said Huawei's involvement will be capped at 35% and it will be excluded from the network's sensitive core. Last month, the Daily Telegraph newspaper reported that, in the wake of the coronavirus crisis, Prime Minister Boris Johnson had asked officials to plan to reduce China's involvement in British 5G infrastructure to zero by 2023. "I do hope that as the government refines its decision, that if it doesn’t reverse it outright, it will mitigate it and minimise the use of Huawei technology, put it on a shorter time frame," Cotton said. "I would welcome that decision to go to zero by 2023 and I would urge you to try and do so even sooner." Since Britain's decision on Huawei, relations between London and Beijing have grown tense over the situation in Hong Kong. On Tuesday, Britain said Beijing should step back from introducing a national security law in Hong Kong which it said was in breach of the 1984 agreement marking the handover of its former colony to China.

China is using Huawei to drive a wedge in the UK-US special relationship: Senator

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US-UK trade deal: What’s really on the table for both nations?

US, UK along with allies urge Hong Kong to hold elections as soon as possible

China is using Huawei to drive a wedge in the UK-US special relationship: Senator