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UK and EU Draft Strategic Trade Pact to Counter U.S. Tariff Policies

Leaked draft outlines a May 19 declaration committing to free trade, shared geopolitical goals, and a post-Brexit relations reset.

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British and EU flags hang on the day of the meeting of British Prime Minister Keir Starmer with European Commission President Ursula von der Leyen, in Brussels, Belgium October 2, 2024. REUTERS/Yves Herman
President Donald Trump along with Treasury Secretary Scott Bessent, left, and Commerce Secretary nominee Howard Lutnick have imposed sweeping tariffs on all US imports (AP Photo/Evan Vucci)

Overview

  • The UK and EU are set to formalize a 'new strategic partnership' at a May 19 summit in London, emphasizing free and open trade.
  • The draft declaration rebukes U.S. tariff policies under President Trump without naming the administration explicitly.
  • Both parties reaffirm commitments to Ukraine's sovereignty, the Paris Climate Agreement, and multilateral cooperation.
  • Negotiations between the UK and U.S. continue as Prime Minister Keir Starmer seeks carve-outs from new American tariffs.
  • EU ambassadors will review the draft this week, with the declaration aiming to reset relations strained since Brexit.