💨 Abstract

President Trump announced a framework for future trade negotiations with the UK, marking his first significant trade initiative. This agreement, though preliminary, reduces some tariffs and opens the UK market to more U.S. products. However, Trump faces a July 8 deadline to negotiate over a hundred similar agreements with other countries to avoid reinstating punitive tariffs. The U.S. economy is already showing signs of strain due to aggressive trade policies, with a recent GDP contraction.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖