💩The U.K. and the U.S. have reached a limited trade deal. President Donald Trump heralds the agreement as a major win after the economic turmoil directly caused by his xenophobic protectionism and aggressive tariff policies. For Prime Minister Keir Starmer, the announcement of the trade deal is a sign of relief for his people and his government, as Trump’s trade policy has upended the trade status quo.

• The deal is all good, but many details remain unsettled. A 10 percent Trump levy remains on U.K. imports. The deal also says that it will commit both countries to working together to enhance industrial and agricultural market access. There is also talk of economic participation related to heavy industrial market expansion.

• Starmer said of the deal, “We’ve built an incredible platform for the future.” Trump said the deal is an opportunity for “billions of dollars of increased market access for American exports.” Most observers are only slightly pleased with the news.

• For example, Josh Lipsky, chair of international economics at the Atlantic Council, told the audiences of CNBC’s “The Exchange” program that this is "a very small win” that is “limited.” And that is noteworthy. Even as Trump and his team run the victory lap across conservative cable news, the elephant in the room is that there is still a pretty damaging trade war going on. And, well, the likes of Canada and China aren’t ready to roll over. Look at Canadian PM Mark Carney.

• In his first state visit as PM to Washington, D.C., Carney was schmoozed by the outspoken Trump. Trump said, “Canada loves us and we love Canada.” But PM Carney rebuked him, noting that “there are some places that are never for sale.”

• Trump’s representatives are also negotiating with representatives of the Chinese government this weekend. During the announcement of the UK deal, Trump shared his supposed “hope” that China’s tariffs would drop from 145 percent.

• He Yadong, a spokesperson for the Chinese Ministry of Commerce, explained that U.S. negotiators should “show sincerity” during trade deal negotiations.

• It is worth noting that there is a lot of uncertainty, though. Trump has belittled the likes of Canada and China for months since his return to the White House. In fact, Trump’s VP, JD Vance, literally called the Chinese people “peasants” in an overtly racist slur. Beijing responded, calling Vance “ignorant” and “impolite.” (Here is a hilarious rebuke from comedian Ronny Chieng of “The Daily Show” weeks ago:

Bottom line: While Trump touts the limited U.S.–U.K. trade deal as a major victory, experts and world leaders remain skeptical, noting unresolved tariffs and ongoing global tensions. Prime Minister Starmer welcomes the agreement as a stabilizing step, but its narrow scope and the persistence of a damaging trade war temper enthusiasm. With inflammatory rhetoric from the Trump administration continuing to alienate key partners like Canada and China, any long-term gains remain deeply uncertain.

CONTEXT: “Dow closes 200 points higher after Trump announces outline of UK trade deal” - CNBC

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