General Terms for the United States of America and the United Kingdom of Great Britain and Northern Ireland Economic Prosperity Deal

5/8/2025

Briefings & Statements

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Action Summary

Context & Objectives:
- US and UK commit to a shared economic prosperity framework through an Economic Prosperity Deal (EPD) aimed at boosting quality and volume of bilateral trade.
- Goals include creating good, high-paying jobs, removing business barriers, and reaffirming a fair, reciprocal, and forward-looking Special Relationship.
Negotiation & Framework:
- The EPD serves as a non-legally binding roadmap that will be developed and expanded over time, including discussions on a transformative technology partnership.
- Both nations agree to continually improve market access and consult on modifications to maintain mutual benefit.
Tariff Adjustments:
- Coordinated, preferential tariff reductions on designated originating goods for both nations, with implementation synchronized based on domestic processes.
- Specific measures include elimination and modification of tariffs on U.S. beef, creation of duty-free quotas for beef and ethanol, and reciprocal treatment for UK automotive, steel, aluminum, and pharmaceutical products, contingent in part on U.S. Section 232 investigations and supply chain security requirements.
Non-Tariff Barriers:
- Enhanced agricultural market access and cooperation on sanitary and phytosanitary (SPS) standards.
- Mutual treatment of conformity assessment bodies, expansion of existing Mutual Recognition Agreements (MRAs), and discussions on international standard recognition.
Digital Trade Enhancements:
- Negotiations for robust digital trade provisions covering services (including financial services), paperless trade, pre-arrival processing, and digitalized movement of goods.
Economic Security & Procurement:
- Strengthened cooperation on economic security through coordinated actions on investment security, export controls, ICT vendor security, and customs cooperation to combat duty evasion.
- Commitment to uphold procurement standards under existing international agreements and national regulatory frameworks.
Commercial & Strategic Opportunities:
- Ongoing collaboration to identify mutually beneficial opportunities in goods, services, investment, and critical industries including defense preparedness.
Additional Commitments & Termination Provisions:
- Discussion of high-standard commitments on intellectual property rights, labor practices (including forced labor issues), and environmental policies.
- Provisions for considering the interests of UK territories and rules for review and termination of the arrangement via written notice.

Risks & Considerations

The U.S.-UK Economic Prosperity Deal (EPD) aims to enhance trade and economic collaboration, which could lead to increased opportunities for Vanderbilt University in terms of research partnerships and international collaborations, particularly in sectors like technology and pharmaceuticals.
Changes in tariff structures and trade regulations may impact the cost and availability of resources and materials used in research and development at Vanderbilt, necessitating adjustments in procurement strategies.
The focus on digital trade and economic security could present opportunities for Vanderbilt’s programs in cybersecurity, digital innovation, and international business to engage in new research and educational initiatives.
Potential changes in agricultural trade and standards could affect Vanderbilt’s agricultural research programs, requiring alignment with new international standards and practices.
The emphasis on intellectual property rights and labor practices may necessitate updates to Vanderbilt’s compliance and ethical guidelines, particularly for international collaborations and research projects.

Impacted Programs

Vanderbilt’s Owen Graduate School of Management may find new opportunities for research and collaboration in international trade and economic policy, particularly in relation to the EPD’s focus on economic integration and digital trade.
The School of Engineering could benefit from increased collaboration in technology and innovation sectors, aligning with the EPD’s goals for a transformative technology partnership.
Vanderbilt’s Law School may need to address changes in international trade law and intellectual property rights, providing expertise and guidance on compliance and legal frameworks.
The College of Arts and Science could see increased demand for expertise in international relations and economic policy, supporting the EPD’s objectives of strengthening economic security and collaboration.

Financial Impact

The EPD’s focus on reducing tariffs and enhancing trade could lead to cost savings for Vanderbilt in terms of imported goods and materials, potentially freeing up resources for other initiatives.
Increased economic collaboration and trade opportunities may open new funding avenues for research and development, particularly in sectors prioritized by the EPD.
Vanderbilt may need to invest in updating its infrastructure and capabilities to align with new digital trade provisions and economic security measures outlined in the EPD.
Changes in agricultural trade and standards could impact funding and resources for Vanderbilt’s agricultural research programs, necessitating strategic adjustments.

Relevance Score: 3 (The EPD presents moderate risks and opportunities, particularly in terms of compliance, international collaboration, and economic integration.)

Key Actions

Vanderbilt’s Office of Federal Relations should monitor the negotiations and developments of the U.S.-UK Economic Prosperity Deal (EPD) to identify potential impacts on research funding and international collaborations. Engaging with policymakers to understand the implications of tariff and non-tariff barrier changes could help Vanderbilt align its international programs with new trade policies.
The Vanderbilt Center for International Business should explore opportunities for partnerships and collaborations with UK institutions, leveraging the EPD’s focus on increasing digital trade and economic security. This could enhance Vanderbilt’s global presence and create new avenues for research and student exchange programs.
Vanderbilt’s School of Engineering should consider the implications of the EPD on technology and digital trade provisions. By aligning its research initiatives with the EPD’s goals, the school can position itself to benefit from increased funding and collaboration opportunities in technology and digital services.
The Vanderbilt Law School should analyze the legal aspects of the EPD, particularly in areas related to intellectual property rights, labor practices, and environmental policies. This analysis can provide valuable insights for Vanderbilt’s legal studies and policy advocacy efforts.
Vanderbilt’s Procurement Office should assess the potential impacts of the EPD on procurement practices, especially in light of the new National Security Unit for Procurement in the UK. Understanding these changes can help Vanderbilt adapt its procurement strategies to align with international standards and security measures.

Opportunities

The EPD presents an opportunity for Vanderbilt’s Owen Graduate School of Management to develop programs focused on international trade and economic policy. By offering courses and research opportunities related to the EPD, the school can attract students interested in global economic issues and enhance its reputation in international business education.
Vanderbilt can capitalize on the EPD’s emphasis on digital trade by expanding its offerings in digital commerce and technology innovation. This could include developing new research centers or initiatives focused on digital trade and technology partnerships with UK institutions.
The focus on economic security and investment measures in the EPD aligns with Vanderbilt’s commitment to fostering secure and sustainable economic practices. The university can engage in policy analysis and advocacy to influence how these measures are implemented and ensure they support equitable and sustainable economic growth.
By participating in discussions and forums related to the EPD, Vanderbilt can position itself as a thought leader in international trade and economic policy. Hosting conferences and workshops on the implications of the EPD can further establish Vanderbilt as a hub for innovative economic thought and practice.

Relevance Score: 4 (The EPD presents significant opportunities for Vanderbilt to enhance its international collaborations and research initiatives, requiring major process changes to align with new trade policies.)

Average Relevance Score: 2.4

Timeline for Implementation

May 8, 2025 – This document becomes operative on that date.
Negotiations for various tariff and non-tariff measures are set to begin immediately and proceed “as soon as practicable” following a reasonable period of negotiation; however, no further specific deadlines are provided.

Relevance Score: 1

Impacted Government Organizations

The White House: As the originating office for the executive leadership, it directs the negotiation and implementation of the bilateral agreement.
Office of the United States Trade Representative (USTR): Implicated in crafting trade policy, negotiating tariff adjustments, and pursuing measures outlined in the tariff and non‐tariff barrier sections.
United States Department of Commerce: Plays a key role in administering Section 232 investigations and the broader trade and standards negotiations referenced in the agreement.
United States Department of Agriculture: Involved in enhancing agricultural market access and ensuring compliance with sanitary and phytosanitary standards.
United States Customs and Border Protection (CBP): Charged with enforcing tariff adjustments and rules of origin that will be adjusted through this trade deal.
United States Department of the Treasury: Likely to have a role in the financial and tariff-related components of the agreement.
United Kingdom Prime Minister’s Office: On the UK side, it is pivotal in steering the national trade policy and representing the government’s commitment to the deal.
United Kingdom Department for International Trade (or equivalent trade authority): Responsible for negotiating preferential tariff reductions and managing key aspects of the bilateral trade terms.
United Kingdom National Security Unit for Procurement: Explicitly mentioned regarding procurement commitments and security aspects, thereby influencing trade and government procurement issues.

Relevance Score: 3 (A moderate number of Federal and UK agencies are impacted by the directives in the Economic Prosperity Deal.)

Responsible Officials

N/A – No specific agency officials or designated roles are named in the document; instead, it outlines mutual intentions and negotiation principles between the United States and the United Kingdom.

Relevance Score: 1 (No specific directives linked to identifiable officials, reducing its direct impact on implementation-level management.)