A U.K. trade deal
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The U.S. and Britain this morning unveiled the framework for a sweeping new trade pact, which sparked investor optimism that more may be on the way.
- Stocks rose, bond prices fell, and bitcoin jumped back over $100,000 as investors pivoted back into a risk-on trade. But some specific winners emerged from today's agreement.
What's inside: The universal 10% tariff on U.K. imports will remain. However, tariffs on U.K. autos will be lowered from 27.5% to 10%, with a quota of 100,000 vehicles.
- The U.S. will get new access to U.K. markets for exports of beef, ethanol and machinery.
The impact: Aston Martin jumped on the news, with shares of the U.K. luxury automaker surging 16% in London. Just last week it said it was scaling back U.S. imports due to President Trump's tariffs.
- U.K. aerospace suppliers Rolls-Royce and Melrose Industries rose after it was revealed that aircraft-related exports to the U.S. would be tariff-free.
- Deere & Co was another winner: Investors sent shares in the agricultural machinery maker up 3.7%.
Boeing seems to have scored the most immediate win, with a deal reportedly in place to sell 30 of its 787 Dreamliners to British Airways parent IAG.
- The U.S. jet maker has found itself front and center in Trump's trade war, with China reportedly forbidding its airlines from purchasing any Boeing planes just last month.
Reality check: The next deals may not come as easily. As Axios' Courtenay Brown and Neil Irwin noted earlier, a pact with the U.K. was the "low-hanging fruit of trade deals."
Go deeper: Why the U.K. trade agreement matters
