President Donald J. Trump and Prime Minister Sir Keir Starmer have announced a commitment to enhance economic collaboration between the United States and the United Kingdom through a new initiative known as the U.S.-UK Economic Prosperity Deal (EPD). This initiative aims to promote shared prosperity for citizens of both nations.
The EPD is described as "a first of its kind," with expectations that it will address three core objectives centered on fairness and reciprocity. The document outlining the general terms of the EPD highlights a mutual desire to make bilateral trade "fairer, easier, and more substantial." Additionally, discussions are ongoing about establishing a transformative technology partnership between the two countries.
Negotiations for the EPD are set to begin immediately, with both nations working to develop and formalize proposals outlined in the initial document. There is an understanding that once these proposals are implemented, the scope of the EPD could be expanded over time to include additional areas. Both countries intend to continue improving market access under this deal.
It is important to note that this document does not represent a legally binding agreement. It becomes operative on May 8, 2025.
