Thursday, in a dramatic V-Day speakerphone meeting with UK Prime Minister Kier Starmer, Trump announced the first “trade deal” following Liberation Day. CNN reported the story under the headline, “
Trump’s first trade ‘deal’ doesn’t bode well for the rest of the world.”
CLIP: Scott Jennings explains progress from first trade agreement with UK (1:41).
It was more of an
incremental agreement than any finalized trade deal, which is completely unsurprising given the complexities and wild varieties of issues involved in international trade. The short version is that some key UK and American industries —cars, steel, and beef— were mutually excused from tariffs on both sides, and the 10% minimum was retained on everything else. Negotiations continue.
The general sense is that America is winning the negotiations. According to Trump’s team, this initial deal will create $6 billion in new tariff revenue for the U.S., in addition to $5 billion in new markets for American farmers. Industry agreed. Yesterday, the National Cattlemen’s Beef Association issued an enthusiastic press release titled, “
President Trump Secures Win for America’s Cattle Producers.”
As usual, the media missed the real headline. Yesterday, we learned for the first time that Trump’s ten percent across-the-board minimum will remain— as a permanent new income source. Press Secretary Leavitt told skeptical reporters (1:07) that, “The president is committed to the 10% baseline tariff, not just for the United Kingdom, but for his trade negotiations with all other countries as well, permanently, even after the deals are done.”
It was an economic nuclear bomb.
An astonished reporter picked up on that explosive bit of news, the quiet declaration of a permanent tariff baseline, and pressed Leavitt, asking again, “Permanently? Even after the deals are done? Like, that is going to remain?” Secretary Leavitt doubled down a stressed, “The President is determined to continue with that baseline tariff. I just spoke with him about it earlier.”
C&C correctly predicts major Trump moves; UK trade win; radical immigration shift; stunning tariff policy; China talks progress; Newark mayor arrest; and jab study links mRNA to falling fertility.
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