New Trade Deal Between US and UK
On May 8, Donald Trump released details of a new trade deal with the UK. Here are the key points:
🔴 US exports to Britain to grow by $5 billion
🔴 U.S. tariff revenue will increase by $6 billion.
🔴 UK tariffs on US goods have been reduced from 5.1% to 1.8%.
🔴 American tariffs on British goods, on the other hand, rose from 3.4% to 10%.
🇺🇸 🇬🇧 American goods will become cheaper in the UK, while British goods will become more expensive in the US. This will strengthen the position of American producers, but may hurt American consumers, who will have to pay more for British goods.
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