President Donald Trump intervened at the last minute to save his first trade “deal” with a late-night call to British Prime Minister Sir Keir Starmer.
With a press conference scheduled Thursday to announce the “historic” pact, the president was desperate to get the agreement over the line. Trump has said he does not think the United States is getting enough from Britain and has refused to lift the 10 percent tariff on products from the Commonwealth.
Britain’s ambassador to the U.S., Sir Peter Mandelson, referred to the call in his remarks in the Oval Office, saying: “Thank you very much indeed for that very typical 11th-hour intervention by you with your phone call demanding even more out of this deal than any of us expected.
“The prime minister was delighted to take that call late at night,” he added, smiling. “You took it to another level.”
Trump refused to explain why he called Starmer, saying only it was “one other little thing.”
Despite being trumpeted as the administration’s first deal since last month’s “Liberation Day” tariff announcement, the agreement with the United Kingdom appeared to be more of a framework than a full deal, with more discussions required before both sides can sign off.
Calling into the Oval Office press conference, Starmer acknowledged that the two countries still need to “finish ironing out some of the details” but insisted they had “built an incredible platform for the future.”
Mandelson also called it a “template” and a “launchpad” for future cooperation.
“For us, it’s not the end, it’s the end of just the beginning,” he said. “There is yet more we can do in reducing tariffs and trade barriers to open our markets up to each other even more than we’re agreeing to do today.”
But Trump insisted it was a “maxed out deal” while still claiming he would make it bigger. He called it a “full and comprehensive” pact.
One key point in the agreement, according to Commerce Secretary Howard Lutnick, was Britain’s agreement to bring down trade barriers for agricultural products such as ethanol and beef as well as machinery.
The U.K. will also be able to send 100,000 cars into the United States at a 10 percent tariff rate, down from the 25 percent levies Trump imposed on foreign cars. The United States will remove 25 percent tariffs on Britain’s steel and aluminum, creating a free trade zone for the metals. Pharmaceuticals will also be exempt from tariffs.
The markets weren’t too bothered that the deal wasn’t buttoned down. The Dow Jones index rose over 500 points after Trump announced the deal.
The negotiations were also seen favorably in London, where Starmer was praised for sidestepping Trump’s threats to punish countries who didn’t fall into line with his demands.
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