President Trump has officially announced a trade deal with the UK, stating that the agreement will create $6 billion in external revenue and $5 billion in revenue for U.S exporters. In addition, the U.S. will have “unprecedented access to UK market,” which includes ethanol, beef, cereals, vegetables, and more.
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U.S. and UK to Continue Working on Other Aspects of Trade Deal
Furthermore, the two countries will create an aluminum and steel trading zone. The UK has also agreed to a $10 billion Boeing (BA) procurement deal.
In the meantime, both sides will continue working on other aspects of the deal, such as reaching an agreement on pharmaceutical trade and the remaining reciprocal tariffs.
The S&P 500 (SPX) is trading higher on the developments.
