In the theatrics of international trade diplomacy, perception often eclipses substance. The recently announced US-UK trade pact, heralded by President Donald Trump as a “breakthrough” and by Prime Minister Keir Starmer as “historic,” exemplifies this phenomenon. Yet, behind the political fanfare lies a modest agreement that does little to alter the fundamental landscape of transatlantic commerce. This deal, which arrives in the wake of sweeping US tariffs imposed last month, appears at first glance to be a recalibration of trade priorities between two long-standing allies.

However, upon closer examination, it becomes clear that the agreement is more symbolic than strategic. The headline takeaway ~ that the US will retain a 10 per cent import tax on most UK goods ~ undercuts any real sense of liberalisation. While some relief has been granted in sectors like steel and automobiles, the core of the tariff regime........

© The Statesman