This report is from today’s TNC’s Daily Open, our international markets update. TNC Daily Open keeps investors informed on everything they need to know, no matter where they are.
The first nation to sign a trade agreement with the United States was the United Kingdom. Let the celebrations begin. Investors undoubtedly did, as evidenced by the three main U.S. indices’ consecutive winning sessions. Strangely, sentiment wasn’t as positive on the other side of the Atlantic: after the agreement was announced, the FTSE 100 in the United Kingdom finished lower.
Indeed, the United Kingdom obtained certain concessions, including a reduced tariff rate on its first 100,000 automobile exports to the United States and new negotiations for the universal 25% import taxes proposed by U.S. President Donald Trump on steel and aluminum.
Nevertheless, given that a 10% duty would continue to apply to all imports from the United Kingdom and other concessions made by Britain, the agreement does appear to be more beneficial to the United States.
The United States already has a trade surplus with the United Kingdom, meaning it imports less than it exports. Even though both nations reached a deal, Trump imposed a 10% tax on the United Kingdom on April 2; hence, those duties did not decrease.
What we heard today is merely noise for most UK imports. Andy Abbott, CEO of the specialized ocean liner company Atlantic Container Line, told CNBC’s Lori Ann LaRocco that it doesn’t impact most items.
According to the information, Washington benefited more from the agreement.
What To Note Today
U.K. and U.S. Outline New Trade Deal, But Details Remain Unclear
The U.S. and U.K. have sketched a preliminary trade agreement, though no formal deal was signed. President Trump confirmed a continued 10% tariff on U.K. goods, calling it a baseline rate. Industry analysts suggest the economic impact may be minimal.
Global Markets Rally on Optimism Around U.S.-U.K. Trade Talks
Wall Street closed higher on Thursday following optimism over a U.S.-U.K. trade framework. The S&P 500 rose 0.58%, the Dow gained 0.62%, and the Nasdaq jumped 1.07%, led by tech. Asian markets followed with modest gains despite losses in China’s top chipmaker.
China’s Exports Surge 8.1% in April Despite U.S. Trade Tensions
China reported an unexpected 8.1% rise in exports for April, despite a sharp 21% drop in shipments to the U.S. Gains in trade with Southeast Asia helped offset losses, highlighting China’s shift amid ongoing tariff challenges.
Coinbase Misses Q1 Estimates While Bitcoin Surges Past $100K
Coinbase shares dipped 3% after underwhelming Q1 earnings, as trading volume fell 17%. Meanwhile, bitcoin soared over 7%, topping $100,000. Analysts are now questioning if previous forecasts were too conservative.
History Made: First American Pope Elected as Leo XIV
Cardinal Robert Francis Prevost has been elected pope, making history as the first American to lead the Catholic Church. At 69, he takes the name Leo XIV. U.S. leaders, including Trump, called it a proud moment for the nation.
U.S.-U.K. Trade Deal Likely Short-Term Boost, Experts Warn
Although the market reacted positively to the new trade deal, experts like CNBC’s Josh Brown suggest the rally may be temporary. He advises watching defensive tech stocks that mimic consumer staples for long-term stability.
Retailers Rethink Prices Amid U.S. Tariff Uncertainty
Global brands like Puma, Pandora, and Hugo Boss are reviewing pricing strategies as the U.S. considers harsh tariffs. Some are shifting supply chains and revising forecasts in anticipation of rising costs.
