Trade Agreement Between U.S. and U.K. Welcome Though Impact Could Be Limited -- Market Talk

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Trade Agreement Between U.S. and U.K. Welcome Though Impact Could Be Limited -- Market Talk

Dow Jones2025-05-09

1628 GMT - News of a trade agreement between the U.K. and U.S. is welcome given the uncertainty about tariffs and their economic impact hovering over markets, Joaquin Thul, economist at EFG Asset Management writes in a note. However, its impact will be limited in the short term, he says. The deal isn't comprehensive but acts as a statement of intent to work towards improving trade between both economies. Tariffs on U.K. steel and aluminum products are expected to be reduced while allowing preferential access of U.S. beef, ethanol and other agricultural products into the U.K. market, he says. "Overall, news of trade agreements between U.K. and U.S. are welcome in the global context of trade uncertainty," Thul says. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

May 08, 2025 12:28 ET (16:28 GMT)

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Tariffs on U.K. steel and aluminum products are expected to be reduced while allowing preferential access of U.S. beef, ethanol and other agricultural products into the U.K. market, he says. \"Overall, news of trade agreements between U.K. and U.S. are welcome in the global context of trade uncertainty,\" Thul says. 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