US President Trump and British Prime Minister Keir Starmer said Monday that they had signed a trade deal that will slash tariffs on UK auto and aerospace industry imports—but they are still discussing how to handle steel production, the AP reports. The pair spoke to reporters at the Group of Seven summit in the Canadian Rockies, with Trump brandishing the pages of what he said was a long-awaited agreement. The rollout was anything but smooth, however, as Trump dropped the papers and at first said his administration had reached an agreement with the European Union when he meant the United Kingdom. The president nonetheless insisted the pact is "a fair deal for both" and would "produce a lot of jobs, a lot of income."
"We just signed it," Trump said, "and it's done." Starmer said it meant "a very good day for both our countries, a real sign of strength." Reaching an agreement is significant as Trump has threatened much of the world with steep import tariffs that have unsettled markets and raised the possibility of a global trade war. He has since backed off on many of his proposed levies but also continued to suggest that administration officials were furiously negotiating new trade pacts with dozens of countries—even as few have actually materialized. Trump said "the UK is very well protected," from tariffs. "You know why? Because I like them."
The signing of the deal at the G7 (before Trump's early exit from the summit) followed Trump and Starmer's announcement in May that they'd reached a framework for a trade pact that would slash US import taxes on British cars, steel and aluminum in return for greater access to the British market for US products, including beef and ethanol. But Monday's agreement fully covers only British cars and aerospace materials, with more work to come on steel. There also was no final deal on pharmaceuticals and aluminum products. (Click for more details on the deal.)
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