Implementing the General Terms of the United States of America-United Kingdom Economic Prosperity Deal

Executive orderTrade dealSigned 25/06/16Federal Register 25/06/23Executive Order 14309Open the original

Summary

President Trump implements the U.S.-UK Economic Prosperity Deal General Terms announced on May 8, 2025, creating an annual tariff-rate quota of 100,000 UK automobiles taxed at 7.5 percent plus the 2.5 percent MFN rate, 10 percent combined, instead of 25 percent; the two sides committed to negotiate preferential treatment for UK pharmaceuticals subject to the section 232 findings.

By industry

Tariffs & Reshoring1 trading day−0.6%p15 stocks5 trading days−0.8%p15 stocks20 trading days+6.2%p15 stocks
“I hereby establish an annual tariff-rate quota of 100,000 automobiles”
Healthcare & Drug Pricing1 trading day−1.8%p15 stocks5 trading days−4.0%p15 stocks20 trading days−7.5%p15 stocks
“significantly preferential treatment outcomes on pharmaceuticals and pharmaceutical ingredients”

Day by day after the announcement

Tariffs & Reshoring stocks and the S&P 500 after the announcement, cumulative %
Day	Tariffs & Reshoring stocks	S&P 500
25/06/13	0.0%	0.0%
25/06/16	+0.4%	+1.0%
25/06/17	+1.1%	+0.1%
25/06/18	+0.2%	+0.2%
25/06/20	−1.2%	−0.3%
25/06/23	+0.3%	+1.1%
25/06/24	+1.4%	+1.7%
25/06/25	+0.8%	+1.7%
25/06/26	+5.3%	+2.5%
25/06/27	+5.8%	+2.9%
25/06/30	+5.6%	+3.4%
25/07/01	+7.6%	+3.5%
25/07/02	+11.5%	+4.0%
25/07/03	+11.9%	+4.8%
25/07/07	+9.8%	+3.8%
25/07/08	+11.1%	+4.0%
25/07/09	+11.1%	+4.5%
25/07/10	+13.9%	+4.8%
25/07/11	+14.2%	+4.4%
25/07/14	+12.8%	+4.6%
25/07/15	+10.4%	+4.1%

Korean stocks in these industries

Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030
Samsung Biologics 207940
Celltrion 068270
SK Biopharmaceuticals 326030

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Gail BoudreauxPresident and CEO
BuyElevance Health
Buy
Elevance Health
ELV
$1.5M
5,116 sh
$1.5M
Filed 25/07/18
Traded 25/07/18
Gail BoudreauxPresident and CEO
BuyElevance Health
Buy
Elevance Health
ELV
$667.7K
2,334 sh
$667.7K
Filed 25/07/18
Traded 25/07/18
Gail BoudreauxPresident and CEO
BuyElevance Health
Buy
Elevance Health
ELV
$302.4K
1,050 sh
$302.4K
Filed 25/07/18
Traded 25/07/18
Julia LetlowRepresentative · Republican · LA
Full saleUnitedhealth Group
Full sale
Unitedhealth Group
UNH
$1K–$15K
Self
$1K–$15K
Reported 01/13
Traded 25/05/27
Guy P. SansoneDirector
BuyCVS Health
Buy
CVS Health
CVS
$100K
1,570 sh
$100K
Filed 25/06/09
Traded 25/06/05
Julia LetlowRepresentative · Republican · LA
BuyPfizer
Buy
Pfizer
PFE
$1K–$15K
Self
$1K–$15K
Reported 01/13
Traded 25/06/17
Angus KingSenator · Independent · ME
Full saleUnitedhealth Group
Full sale
Unitedhealth Group
UNH
$1K–$15K
Spouse
$1K–$15K
Reported 25/08/18
Traded 25/07/15
John BoozmanSenator · Republican · AR
Full saleUnitedhealth Group
Full sale
Unitedhealth Group
UNH
$1K–$15K
Joint
$1K–$15K
Reported 25/07/09
Traded 25/06/11
Shelley CapitoSenator · Republican · WV
Full saleUnitedhealth Group
Full sale
Unitedhealth Group
UNH
$1K–$15K
Spouse
$1K–$15K
Reported 25/07/04
Traded 25/06/23
John C. ReedEVP, Innovative Medicine, R&D
SellJohnson & Johnson
Sell
Johnson & Johnson
JNJ
$3.1M
19,137 sh
$3.1M
Filed 25/07/18
Traded 25/07/17
Patrick Hugh ConwayCEO, Optum
SellUnitedhealth Group
Sell
Unitedhealth Group
UNH
$179.6K
589 sh
$179.6K
Filed 25/06/12
Traded 25/06/10
Brian S. TylerCEO
Sell10b5-1 planMcKesson
Sell10b5-1 plan
McKesson
MCK
$13.7M
19,371 sh
$13.7M
Filed 25/07/14
Traded 25/07/11
Brian S. TylerCEO
Sell10b5-1 planMcKesson
Sell10b5-1 plan
McKesson
MCK
$13.7M
19,370 sh
$13.7M
Filed 25/06/09
Traded 25/06/06
Daniel Patrick O'DayChairman & CEO
Sell10b5-1 planGilead Sciences
Sell10b5-1 plan
Gilead Sciences
GILD
$1M
9,400 sh
$1M
Filed 25/07/01
Traded 25/06/30
Daniel Patrick O'DayChairman & CEO
Sell10b5-1 planGilead Sciences
Sell10b5-1 plan
Gilead Sciences
GILD
$706.5K
6,416 sh
$706.5K
Filed 25/06/02
Traded 25/05/30
Rachna KhoslaSVP, Business Development
SellAmgen
Sell
Amgen
AMGN
$434.5K
1,500 sh
$434.5K
Filed 25/06/06
Traded 25/06/05
Steven H. CollisExecutive Chairman
Sell10b5-1 planCencora
Sell10b5-1 plan
Cencora
COR
$4.3M
14,578 sh
$4.3M
Filed 25/07/23
Traded 25/07/22
Steven H. CollisExecutive Chairman
Sell10b5-1 planCencora
Sell10b5-1 plan
Cencora
COR
$4.3M
14,579 sh
$4.3M
Filed 25/06/25
Traded 25/06/24
Robert S. WetherbeeExecutive Chairman
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$4.1M
50,000 sh
$4.1M
Filed 25/06/05
Traded 25/06/03
Daniel Patrick O'DayChairman & CEO
Sell10b5-1 planGilead Sciences
Sell10b5-1 plan
Gilead Sciences
GILD
$397.7K
3,584 sh
$397.7K
Filed 25/06/02
Traded 25/05/30