Originally Posted by
Caversham Green
There are so many nuances that it's difficult to reach a conclusion at this stage.
The statement itself strikes me as pretty much meaningless without context - e.g. how the averages referred to are calculated. Were they simply a=100%; b=0% therefore average = 50%, or were they done over the total amounts traded, which is a moving target.
On the face of the statement one could conclude that the UK had higher tariffs on US goods than vice versa, in which case you couldn't really blame Trump for seeking to balance things out (and I feel a bit sick saying that) but without having more detail we can't be sure.
The 10% blanket tariff was always going to stand regardless - was that taken into account in assessing "winners" and "losers"? One point is that if the reduction in US tariffs on steel helps to keep the Strumphorpe site in action that's a big win for the UK.
Also, grunt's post that the document is not legally binding means that it is not a deal - it may be a concept of a deal, but right now it looks to me like two struggling politicians desperately trying to polish a turd.
Sorry for the stream of consciousness there.