A trade deal is now on the books between the UK and the United States. The agreement was signed yesterday afternoon at the G7 Summit, and it includes support for America’s beef producers.
President Donald Trump inked the deal with British Prime Minister Keir Starmer. The agreement cuts tariffs on UK auto and aerospace imports. Tariffs on steel production are still in the air, but it does open the door for more beef exports.
The trade deal will allow American farmers to export up to 29 million pounds of beef to the UK each year. President Trump calls the deal fair for both sides and says it will create more jobs and a lot more income.
This all comes as the clock ticks down to July 9th, when the 90-day tariff pause on several countries, including the European Union, comes to an end. President Trump paused reciprocal tariffs on most trade partners last month. If deals are not reached, the 10-percent baseline tariffs will likely go up. Tariffs on partners like China, Canada, and Mexico are all adjusted separately.
USDA’s February WASDE report, analysts expect minimal price movement as grain stocks remain steady. Traders weigh renewed Chinese soybean purchases, South American weather, acreage shifts, and upcoming USMCA trade talks.
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