From UK perspective it looks like this deal takes the edge of some existing tariffs (cars, steel) & provides a framework to get a better ride on future (pharma), and it doesn’t appear to have given up very much in return. Also doesn’t appear to cut across EU negotiations (as expected). - ThreadSky

samuelmarclowe.bsky.social • 8 days ago

From UK perspective it looks like this deal takes the edge of some existing tariffs (cars, steel) & provides a framework to get a better ride on future (pharma), and it doesn’t appear to have given up very much in return.

Also doesn’t appear to cut across EU negotiations (as expected).

Comments

oddly-s.bsky.social•8 days ago

So it's just beef oil and the NHS that's been sold down the river? What a "win" 👀

pauldstevens.bsky.social•7 days ago

Trump only does one kind of deal: one where (he thinks) he wins, and the other party loses. It’s always a zero sum game. At least in his head.

theglassisempty.bsky.social•8 days ago

So when do these new arrangements start? Does Trump have the power to just announce them and they are done?

explaintrade.com•8 days ago

1. When the text is finalized and agreed. They've said a matter of weeks.

2. Yes, pretty much.

aaronhughellis.bsky.social•8 days ago

Will the “finalizing” of the text itself be further negotiation?

samuelmarclowe.bsky.social•8 days ago

Yeah

aaronhughellis.bsky.social•8 days ago

The grimace I made yesterday when I read “The text has yet to be finalized.” I thought, okay, so, there still isn’t really a deal and there’s still scope for either Trump to fuck it up or US negotiators in an effort to please him by demanding more

carolkilliney.bsky.social•8 days ago

I still don’t quite believe it somehow.

bp740.bsky.social•8 days ago

🤞

rushty321.bsky.social•8 days ago

Exactly why the far right and the far left hate it!
Trump’s got nothing except being able to tell the mugs that voted for him that the UK have signed a deal.
Starmer’s done good!

klh939.bsky.social•8 days ago

Really? Look at how the Whitehouse has presented it. Yes there is spin BUT the raw numbers don't lie.

What the happened to reciprocal tariffs when we pay 10% on exports to the US and they pay.......naf all

rushty321.bsky.social•8 days ago

Again, that’s not true. We do levy tariffs.

klh939.bsky.social•8 days ago

Yes, but again look at the raw numbers as presented by the Whitehouse, the tarrifs we kevy are nothing good like 10% and are not across the board, unlike the US

billheywood.bsky.social•8 days ago

It seems to be deftly done

cmirar.bsky.social•8 days ago

📌

finl3y.bsky.social•8 days ago

A writer in the FT referred to it as a deal with a mob boss which paves the way for said mob boss to come back for more. I don’t think we should be pleased about being first because we don’t actually know what Trump will stick to and based on his previous behaviour, he doesn’t stick to anything

samuelmarclowe.bsky.social•8 days ago

Still some questions on specifics, eg rules of origin and also the parallel China-related commitments. Also more negotiations to come (inevitably).

But for the weekend at least, probably take the W.

simonsbell.bsky.social•8 days ago

Looks remarkably like Heads of Terms - an agreement to agree or a pre-nup - to me.

If the engagement leads to marriage it'll be great, but it seems there's a lot to nail down.

I wonder what further wins there are for both sides?

The section on standards was interesting - a US-UK CE (kite) mark?

gerryguk7.bsky.social•8 days ago

Why do they not communicate it as that then? And why do they not feel the need to take Parliament or the public along with their substantive trade policy? They can't fix EU trade on page 12 only, it has to be page 1 as well.

smithmichaelw.bsky.social•8 days ago

When exactly should this have gone to parliament? Should we have recalled MPs from their travel home for the weekend?

gerryguk7.bsky.social•8 days ago

Our trading relationships with the European Union and the United States of America? I think Parliamentary time should be found to debate these issues of fundamental national importance. Call me old fashioned.

smithmichaelw.bsky.social•8 days ago

You seem to be getting ahead of yourself without understanding process, it's the government who uses power delegated by parliament to negotiate them any implementation comes next. You seem to expect things to happen instantly

gerryguk7.bsky.social•8 days ago

No, I expect the contours of our trade relationships with foreign countries, which will underpin our macro-economic reality for decades, to be debated and set by Parliament in advance of talks. That plainly hasn't happened with either US or The EU. The EU doesn't even know what we want from talks.

smithmichaelw.bsky.social•8 days ago

And they may get that chance, but not on Friday morning without a recall. Tories changed the law though so blame them, however anyone making decisions based on a like/dislike of Trump is an idiot.

gerryguk7.bsky.social•8 days ago

Revulsion at Trump is justified. The tawdry spectacle of sucking up to him has a political cost, it just does, here and in the EU. Labour controls Parliament. They owe it to the country and to Parliament to allow sufficient time to debate this "deal" with the US, and the India one, and the EU.

kentindell.bsky.social•8 days ago

Do the tariffs get lifted now, before negotiations are complete?

barbell-lion.bsky.social•8 days ago

Hopefully leaves the way clear for a proper meaningful deal with EU that might budge the needle. Whilst starmer can still claim he's not a europhile as he's also done deals with US and India. Main relief for me is that US haven't insisting on fucking up the EU deal (or starmer didn't budge on that)