Trump posted on social media today (May 8) saying, "A major press conference will be held in the Oval Office at 10 a.m. tomorrow to discuss a significant trade agreement reached with representatives of a major country. This is the first of many agreements!!!"
Reports suggest that the Trump administration will announce a trade agreement with the UK. The special relationship between the US and the UK has drawn attention to their trade agreement.
Previously, Trump's chief trade advisor Peter Navarro had speculated that the UK might become the first country to sign a trade agreement with the US. According to insiders, the UK and the US are conducting intensive negotiations on an economic agreement, with a British official delegation negotiating the terms of the agreement this week in Washington.
In terms of commodity trade, tariff reductions may involve areas such as agricultural products and industrial goods. In the service trade sector, financial services and digital services are key focuses for both sides. The agreement may also include investment protection and intellectual property clauses. Additionally, it has been reported that the content of the agreement may involve the UK removing some non-tariff trade barriers against the US, such as the 2% digital services tax, in exchange for which the US may ease the UK's tariff burden by reducing or exempting the 25% high tariffs currently imposed on UK steel, aluminum, and automobiles.
Original article: https://www.toutiao.com/article/1831522404614215/
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