China, trade deal
Digest more
The trade deal struck last week between the United States and Britain is probably not going to serve as a template for a trade agreement between the U.S. and the European Union, Lithuania's Finance Minister Rimantas Sadzius said on Tuesday.
China reportedly criticised the deal, saying it could be used to squeeze its products out of Britain’s supply chains.
Final details are under wraps but Trump promised the deal provides billions of dollars in access for U.S. agricultural products like beef and ethanol.
The Trump administration announced a trade deal with the United Kingdom Thursday in grandiose terms, but with only limited details about what it achieves.
Business secretary Jonathan Reynolds has insisted the deal "would not impact British workers", said the BBC, stating the UK has 16 agreements designed to prevent "double taxation of work". Such agreements cover more than 50 countries, "including the US, EU and South Korea ".
President Donald Trump hailed a "breakthrough" US trade agreement with the UK, the culmination of weeks of talks between the two allies and marking the first of his promised deals
5don MSN
President Donald Trump has agreed to cut tariffs on British autos, steel and aluminum in a planned trade deal.
These conditions have raised concerns in Beijing, with Zhang Yansheng, a senior researcher at the China Academy of Macroeconomic Research, describing the deal's clauses as "poison pills" that are worse than tariffs.