Commerce Secretary Howard Lutnik gave details of ‘Kudlo’ to the UK Trade Agreement and State of Tariff Dialogue.
Commerce Secretary Howard Lutnik said on Thursday that the newly declared trade deal between the US and the UK is just the beginning, as more compromises are expected in the coming weeks.
“it is Donald Trump To go out for a person like me and make opportunities for the best deal for America, “Lotnik said during an interview on Fox Business,” Kudlo. “” We have got cards, and we are going to play them incredibly, incredibly well. ,
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Initial deal – called the US agricultural industry as promoting – 10% maintains tariffs on British exports by President Donald Trump, reduces American duties on British car exports and expands agricultural reach for both countries. According to Lutnik, $ $ 5 billion in new export opportunities for American companies and $ 6 billion in tariff revenue.
President Donald Trump, along with JD Vance, Vice President of Peter Mandelson, United States, and the British Ambassador, hear as the UK Prime Minister Kir Kirs Stmper, speaker on the speakerphone at the Oval Office at the White House on Thursday. (Anna Moneymaker / Getty Image / Getty Images)
“This is the right kind of deal you want to do with a country,” said Lutnik. “We help them, we are going to sell them beef, and they are going to buy less beef from other countries. I think the way they have balanced it. It’s great for us.”
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Additionally, the trade deal allows the British-made Rolls-Royce engines to enter tariff-free in the US. Boeing Jets. In return, he said, UK is planning to buy a $ 10 billion worth of jets.
According to Reuters, IAG, owner of British Airways, gave a new order for 32 Boeing 787–10 Dreamliner aircraft on Friday morning.
Commerce Secretary Howard Lutnik said, “This is the correct deal you want to do with a country.” (Kayla Bartkovski / Getty Image / Getty Images)
Ever since Trump entered the office, revenue from tariff increases by 45% year -on -year, with a run rate of $ 125 billion. However, the “winning move” for the American GDP is cutting the business deficit, the Lutnik said.
“If we cut a deficit then 25% – is easy to do – this is a point GDP,” he said.
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Companies are also roaming in the US to invest-Recently, a trillion-dollar growth in American investment with Tramp is celebrating. Companies including Apple, NVIDIA, Hyundai and Merk have promised to invest billions in the US
Britain’s Prime Minister Kir Stmper, left, meets President Donald Trump during a bilateral meeting at the Oval office at the White House at Washington, DC on 27 February. (Carl Court – Pool / Getty Image / Getty Images)
The US-UK deal is also expected to reduce dependence on supply chains China And will determine the stage for future deals, Lutnik said.
“This is the kind of step that is going to change the way America is going to change the way America feels about itself, and it is going to drive Our economy“He said.” The President understands the business. … Wait until you look at the numbers coming out of the Middle East next week. ,
While more deals are currently working, the US focuses mainly on working with large countries.
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“We definitely want to do a bigger country from Asia, because we want to be geographical. We want to show people how to do it,” said Lutnik. “But remember – giant country. I don’t want to go fast. I want to do it correctly.”
