The White House has indicated that more trade agreements are in the works following the announcement of a bilateral deal between the US and the UK on Thursday.
During a press conference on Friday, White House press secretary Caroline Leavitt expressed optimism about future bilateral agreements.
https://www.youtube.com/watch?v=jd1orwpxxjg
“This marks the beginning of numerous trade deals that are being planned. We’re gearing up for historic agreements, it’s going to be bigger than ever,” Leavitt stated in her opening remarks.
Her remarks echoed statements from Trump made in the Oval Office on Thursday, as well as a post he shared on True Social on Friday. When questioned about the status of additional deals, Trump responded, “we are very close,” noting that there are “many” ongoing negotiations.
He mentioned that Treasury Secretary Howard Lutnick would resume trade contract discussions after the press conference, while Treasury Secretary Scott Bescent is scheduled to meet with Chinese officials in Switzerland over the weekend.
Trump also shared a post on True Society Friday morning.
“We’ve got a lot of trade deals lined up, all promising (really great!)!” he remarked.
The White House revealed that the recent agreement between the US and the UK has opened up $5 billion worth of new opportunities for American producers in the UK market. Moreover, tariffs on the 10% baseline release date will remain in place, expected to generate an additional $6 billion in revenue.
Products from the US that will benefit from this access include “ethanol, beef, grains, fruits, vegetables, animal feed, tobacco, soft drinks, shellfish, chemicals, machinery, and more.”
The deal also lowers duties on UK cars to 10% for the first 100,000 vehicles imported into the US annually, while additional imports will still incur a 25% tariff.
Furthermore, although Rolls-Royce engines purchased by certain American manufacturers are not subject to tariffs, Lutnick pointed out that UK airlines are looking to buy Boeing aircraft worth $20 billion.
