White smoke on a US trade deal

Coffee House Shots

The Spectator

News, Politics, Government, Daily News

4.4 • 2.1K Ratings

🗓️ 8 May 2025

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s a massive day for the Labour government and for Keir Starmer, as the UK becomes the first country to sign a trade deal with the US following the tariff turmoil of last month. Donald Trump described it as a ‘full and comprehensive deal’ … although we are still waiting for some of the details to be thrashed out. What we do know is this: the 25 per cent tariff on UK steel and aluminium has been removed and the rate on most car exports has been slashed from 27.5 per cent to 10 per cent. In return, the UK is removing the tariff on ethanol for US goods and has agreed ‘reciprocal market access on beef’. So far there is no word on the digital services tax, and Britain is still liable to pay the 10 per cent baseline tariff rate.

On both sides of the pond, the deal is being described as ‘historic’ by leaders who – for their own reasons – could really do with a win. But who does this deal favour? Is it a coup for Starmer – or Trump?

Oscar Edmondson speaks to Kate Andrews and Michael Simmons.

Produced by Oscar Edmondson.

Transcript

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0:00.0	The Spectator magazine is home to wonderful writing, insightful analysis and unrivaled books and arts reviews.
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0:15.2	Go to spectator.com.uk forward slash voucher.
0:23.4	Hello and welcome to Coffee House Shots, the Spectator's Daily Politics Podcast.
0:28.1	I'm Oskaradminton and I'm joined today by Kate Andrews and Michael Simmons.
0:32.0	On a massive day for the Labour government and for Keir Stama as the UK is the first country
0:37.3	to sign a trade deal
0:38.5	with the US after the Tower of Termole of the last month. On both sides of the pond, the deal is
0:43.5	being described as historic by leaders who, for their own reasons, could really do with a win.
0:49.2	But who does the deal favour? Let's start with a clip from the president.
0:53.4	There won't be any red tape. Things are
0:55.4	going to move very quickly both ways. The final details are being written up in the coming
0:59.9	weeks will have it all very conclusive, but the actual deal is a very conclusive one. We think
1:05.8	just about everything's been approved. So good for both countries.
1:12.0	Now, Kate, Trump has described this deal as full and comprehensive.
1:16.7	Could you give us a full and comprehensive download of what we know so far?
1:22.3	Well, what we know so far is that it's actually quite specific.
1:25.2	It's not really a comprehensive free trade deal, but I don't
1:28.3	say that to take away from the moment. It's a really positive update overall. They have negotiated
1:34.7	in particular areas that both countries consider to be areas of national security plus a few
1:39.8	others, but, you know, mainly things related to defense, steel, agriculture, things that, you know, are
	...

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