The "breakthrough" US-UK trade deal announced Thursday by President Donald Trump is the first agreement to be unveiled since he slapped steep tariffs on allies and adversaries alike on April 2.

Here is what we know about the new trade deal for goods:

The 10 percent "baseline" tariff imposed on most US trading partners in early April remains in effect for most goods, with the largest reductions in trade barriers coming on items recently subjected to new sector-specific tariffs of 25 percent.

The new deal includes "billions of dollars of increased market access for American exports," Trump said during the Oval Office announcement, which was attended by Peter Mandelson, the British ambassador to the United States.

The agreement will bring in an additional $6 billion to the Treasury Department's coffers from new tariff revenue, the White House said in a statement.

The deal is sure to be closely scrutinized ahead of the Trump administration's self-imposed July deadline for talks, with some nations facing a far higher rate of tariffs if no deal is struck.

"This was the lowest hanging fruit available to the........

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