Prime Minister Keir Starmer announced the conclusion of trade negotiations with the United States, stating that a "historic agreement" has been achieved.
On the 8th (local time), Prime Minister Keir Starmer participated via video link in a press conference with U.S. President Donald Trump and other U.S. government officials, calling it "a fantastic and historic day" and noted, "a true tribute to the history of close cooperation between the two nations."
Previously, the two countries reached a trade agreement in which the United States decided to reduce the tariff on British cars to 10% from 25% for an annual limit of 100,000 vehicles. The 25% tariff on British steel and aluminum will be abolished, and the United Kingdom agreed to open its market to the United States for ▲ ethanol ▲ beef ▲ agricultural products ▲ machinery.
On that day, Prime Minister Starmer visited a factory in central England and announced the details of the agreement, stating that "the tariff reductions will take effect as soon as possible."
He emphasized, "We are sending a message to the world that Britain is open for business," and noted, "Being the first country to reach an agreement with the United States will be significant in times of global instability."
The British government explained that this will save millions of pounds annually for luxury car manufacturer Jaguar Land Rover.
Considering that the United Kingdom exported more than 100,000 cars worth £7.5 billion (approximately 13.9 trillion won) last year, it appears that the reduced tariff will practically apply to almost all the volume of exports to the United States.
Additionally, the British government stated that the digital services tax was not included in this agreement and said, "The two countries will work towards a digital trade agreement to simplify paperwork for British corporations looking to export to the United States."
Regarding the pharmaceutical sector, the British government noted that "work on (tariff reductions) will continue in the future." The pharmaceutical sector has been known to be the last area of disagreement in trade negotiations between the two countries.
Moreover, Prime Minister Starmer emphasized that there would be "no changes to food safety standards" regarding the mutual market access agreement for beef. This is seen as a remark to dispel concerns about whether the United Kingdom will accept U.S. chlorinated chicken or hormone-treated beef.