The UK has become the first nation to reach a tariff agreement with the US since President Donald Trump levied baseline 10% tariffs on all foreign countries last month. While full details have not yet been disclosed, import taxes on beef and ethanol products from the US have been removed. Stock prices lifted this morning following the announcements. The deal establishes a reciprocal tariff-free quota of 13,000 metric tons of beef exports between the two countries annually, allowing British farmers access to the US market for the first time. This is something the UK National Farmers Union (NFU) has campaigned for in Washington for several years.