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Trump, Starmer Hail 'Breakthrough' Deal
The Straits Times
|May 09, 2025
Trade agreement with UK is first since US leader triggered global tariff war
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LONDON/WASHINGTON - US President Donald Trump and British Prime Minister Keir Starmer on May 8 announced a "breakthrough deal" on trade that leaves in place a 10 per cent tariff on goods imported from the UK, while Britain agreed to lower its tariffs to 1.8 per cent from 5.1 per cent and provide greater access to US goods.
The agreement announced by Mr Trump from the Oval Office marked the first since he triggered a global trade war with a barrage of levies on trading partners following his return to the White House in January.
"It opens up a tremendous market for us," Mr Trump said.
"This is a really fantastic, historic day," Mr Starmer said by teleconference.
The US has been under pressure from investors to strike deals to de-escalate its tariff war after Mr Trump's often chaotic policymaking upended global trade with friends and foes alike, threatening to stoke inflation and start a recession.
This story is from the May 09, 2025 edition of The Straits Times.
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