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If Trump’s UK trade pact is a win, what does a loss look like?

Despite talk of an “extraordinary” and “comprehensive” agreement, a free-trade deal this is not.

The Trump administration’s announced trade pact with the UK has thrown a bone to investors, consumers and trading partners waiting to see the first tangible sign of a retreat from the blizzard of tariff threats in April.

But the reality of what’s been unveiled on Thursday (Friday AEST) doesn’t match the superlatives flowing out of the Oval Office.

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    Original URL: https://www.afr.com/world/north-america/if-trump-s-uk-trade-pact-is-a-win-what-does-a-loss-look-like-20250509-p5lxxx