Trade Wars

5/8/25 ABC News is of course reluctant to give him props for it:

President Donald Trump unveiled the framework for a trade agreement with the United Kingdom on Thursday, marking the first such accord with any nation since the White House suspended some of its far-reaching "Liberation Day" tariffs last month.

The Trump administration will adjust 25% tariffs on steel and aluminum, and will lower auto tariffs from 25% to 10% on the first 100,000 British vehicles sent to the U.S., Trump said.

The agreement left in place 10% tariffs that the U.S. slapped last month on imported goods from nearly all foreign countries.

In exchange, the U.K. will ease trade barriers targeting a set of products, including ethanol, beef and machinery, among other products, Secretary of Commerce Howard Lutnick said. That additional market access amounts to $5 billion worth of trade, the White House said.