(Daily Caller News Foundation) — Fox Business host Brian Brenberg told “Fox and Friends” co-host Lawrence Jones Friday the trade deal President Donald Trump announced with the United Kingdom could bring billions of dollars in exports for the United States.
Trump announced the trade deal with the United Kingdom Thursday, the first since he announced a 90-day pause on reciprocal tariffs via an April 9 post on Truth Social that also announced substantial increases on tariffs on Chinese exports to the United States, a week after he initially unveiled the duties on imports. Brenberg told Jones that the arrangement brought “big things” for American companies.
“Let’s talk about what we’re going to be doing with the U.K., what we get. First of all, that 10% baseline tariff, I want you to see that that is what President Trump laid out for all countries really when he laid out the big liberation day tariffs,” Brenberg said. “That stays on. That’s a clue to you that no matter what kind of deals we get going forward, they are probably going to have that 10% baseline. Now, we will see but that’s what it looks like.”
“A couple of big things that American businesses get. Look at the tariff rate on U.S. ethanol. That was more like 18%, 19%, that comes down to zero now under this deal,” Brenberg said. “So American sellers of ethanol have more access to the U.K. market. The overall average tariff rate for all U.K. products that we sell to the U.K., down to 1.8%. The estimate is that’s about $5 billion in new export opportunities for U.S. businesses. So for U.S. businesses, wanting to sell into the U.K., a lot of things open up here.”
Brenberg noted that British automakers like Rolls Royce and Jaguar would get a break on the 25% tariff covering imported cars, SUVs, crossovers, minivans and light trucks, in addition to parts including engines and transmissions Trump imposed in March.
“One of the big things they get on airline, airplane parts, okay. The U.S. is going to sell Boeing, $10 billion of Boeing jets to the U.K. In return, we’re going to take U.K. airline parts at a 0% tariff,” Benberg said. “So Rolls-Royce engines for those jets, for example, come in 0% rate. U.K. gets to sell 100,000 cars to the U.S. not at the 25% rate that was in place under the liberation day tariff but at a 10% rate.”
“100,000 cars is about the what the U.K. sells to the U.S. anyway. They will get a better rate on that,” Brenberg continued. “And then this is a really big one: Remember the 25% steel and aluminum tariffs? What the U.S. is doing creating is a sort of steel and aluminum union with the U.K. They are saying if you keep dumped steel products out of the U.K., you can sell your products to us at a 0% rate. There is an alignment there on steel and aluminum in particular.”
This article was originally published by the Daily Caller News Foundation.
