Trump Declares Inconclusive Custom Deal With The UK

(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, May 8 (KUNA) -- US President Donald Trump declared on Thursday working out a custom deal with the United Kingdom but indicated that its details still needed to be thrashed out.
Trump, speaking at a news conference at the White House, said the deal includes billions of dollars of increased market access for American exports, especially in agriculture by increasing access to U.S. beef, ethanol and other farming products. The specifics are still being finalized.
The U.K. will reduce non-tariff barriers that discriminate against U.S. products and that the U.K. will fast-track American goods through customs process, Trump said.
The final details are being written up in the coming weeks, he added. It is very conclusive and so good for both countries.
"This is now turning out, I think, really to be a great deal for both countries because it will be really great for the U.K. also. So, theyآ're opening up the country, their country is a little closed and we appreciate that," he said.
The U.S. and the U.K. have been working for years to try and make a deal and it never quite got there. It did with this prime minister, so I want to just congratulate you, he said.
For his part, US Commerce Secretary Howard Lutnick stated that the increased market access for US exporters will bring in billions of dollars. "Theyآ've agreed to open their markets and that will add USD five billion of opportunity to American exporters .. We still have a ten percent tariff on, which will produce USD six billion in revenue for the United States."
The deal wonآ't weigh on the UK economy and that the countryآ's workers wonآ't be negatively affected by the deal, the Commerce Secretary said.
The deal means the UK can send 100,000 cars into the United States and only pay a ten percent tariff, he added. (end)
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