US Secretary of Commerce Reveals Key Details of Historic US-UK Trade Deal

Diario As

Ver US Secretary of Commerce Reveals Key Details of Historic US-UK Trade Deal - Diario As en Dailymotion

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00:00Howard, go ahead.

00:01So the UK is the sixth largest economy in the world

00:05and the fourth largest that we export to, right?

00:10So it's a huge market, a top 10 market.

00:13If you remember Liberation Day, they were at 10%

00:17because we have balanced trade with the UK, right?

00:21They say they have a surplus, but of course, that counts gold bullion, which is...

00:25So let's just call it balanced trade.

00:27So how do you open up a market in balanced trade?

00:30People think it's impossible.

00:31They've always thought it was impossible

00:33until President Trump came on the scene and changed the way things work.

00:38So here's what we've got.

00:39We've opened up new market access, ethanol, beef, machinery,

00:45all the agricultural products.

00:47They've agreed to open their markets,

00:49and that will add $5 billion of opportunity to American exporters.

00:54So the question is, why would they do that now?

00:58Because they've never done it before.

00:59And we still have a 10% tariff on,

01:02which will produce $6 billion of revenue for the United States.

01:06So the idea was, how do they keep their jobs,

01:09protect their economy,

01:11and do the best for their people while opening the market for us?

01:14And the way is they studied it, their team was exceptional,

01:18and they tried to figure out the markets that they're importing from other people

01:22and try to send them over to America.

01:25So why were they always favoring others and not us?

01:28And what they've done is they've found the ways to do that

01:31so that we have new access, right?

01:35But the UK workers are protected, and that was the balance.

01:39So you've got, we did a deal with them in automobiles.

01:42And you know, if you're not building here, we charge you a 25% tariff.

01:47But the president, and by the way, I want to make this clear.

01:50While Jameson and I worked hard, this was the president's deal.

01:53And people think, oh, that's not the way it works.

01:55If you got to sit next to him, I have the best dealmaker to my left.

02:00And if you don't think that we take advantage of him

02:03calling the prime minister and getting that deal done,

02:05you don't understand who's the president of the United States.

02:08So he's the closer.

02:10He gets deals done that we could never get done

02:13because he understands business.

02:15He understands deals.

02:16And that's why we're here today.

02:19So he agreed they could send 100,000 cars into America

02:24and only pay a 10% tariff.

02:27And that protects their car industry.

02:29And remember, we do 16 million cars a year.

02:32So this is only like 0.6%.

02:34But for the UK auto people, this is tens of thousands of jobs

02:40that the president agreed that he would protect for them.

02:43So he made that deal, right?

02:45Then steel and aluminum, right?

02:47Their steel business has been destroyed like everybody else has been destroyed

02:51by people dumping steel into their markets.

02:54And British Steel had announced it was closing down.

02:57So the British government, as part of this deal,

03:00nationalized British steel,

03:02and they're going to match the kinds of models we do.

03:05They'll put tariffs on.

03:06They'll put quotas on.

03:07They want to do it with America

03:09so they can be part of the resurgence of steel and aluminum in America.

03:14And that saves them, again, thousands and thousands of jobs.

03:18So if you go step-by-step,

03:20aero and commercial planes,

03:24they sell Rolls-Royce engines to Boeing.

03:26We've agreed to let Rolls-Royce engines

03:29and those kind of plane parts to come over tariff-free.

03:33And what you're going to hear today

03:34is there's going to be an announcement in the UK

03:37that they are buying $10 billion worth of Boeing planes later today.

03:43But I'm going to let the name of the airline announce it

03:46because that's theirs to do it.

03:48Part of this deal was always to do it together

03:51and to do it strong.

03:52And you can see the numbers on this board.

03:54Everything about this board works exceptionally well

03:57for the United States of America.

03:58It lays out the plan that you can work with us in autos.

04:02You can work with us with aero and commercial.

04:04You can work with us in pharmaceuticals

04:07if you have a supply chain

04:08that is secure and protected in national security.

04:11So we feel really good about the deal.

04:14You've heard the prime minister.

04:15He feels really good about the deal, right?

04:17And we started at 10% and we ended at 10%.

04:20And the market for America is better.

04:23And this is a perfect example

04:25of why Donald Trump produced Liberation Day.

04:28People don't understand he gets things done.

04:32In a matter of time,

04:33this would have taken Jameson and I

04:35three years, maybe.

04:38And instead, we got it done in 45 days,

04:41certainly, because we work for Donald Trump.

04:44So Jameson, my partner in all this,

04:46maybe Jameson, you'd like to talk a little

04:47and then we'll turn it over.

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