In May 2025, the United Kingdom (UK) and the United States of America (US) announced a landmark Economic Prosperity Deal (EPD), signalling a renewed effort to deepen bilateral trade and economic cooperation. The EPD establishes general terms of trade including on market access, tariff concessions and institutional commitments, paving the way for more comprehensive future trade agreements. The UK government described the EPD as a bridge towards “shared prosperity” whilst retaining flexibility to negotiate further reductions and alignments in other areas.
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