Robert Bergqvist says that the expectations of the agreement between the US and the UK had been pumped up from the American side ahead of Thursday's press conference at the White House, but that they were not fulfilled.
There have been very large letters ahead of this, and so far the agreement is written in fairly small letters. There is an imbalance compared to the hopes, but it is important to take a step forward, says Robert Bergqvist, senior economist at major bank SEB.
The economic value of the agreement is "marginal" – the tariffs must come down for it to have a greater economic value, he says further.
It's starting to get urgent
He reminds us that it has almost been a month since Donald Trump announced a 90-day pause on the punitive tariffs introduced at the beginning of April.
It has gone approximately one-third of the pause, so it's starting to get a little to get a trade agreement, says Bergqvist.
Robert Bergqvist's colleague, interest and currency strategist Amanda Sundström at SEB, agrees that there is much that is unclear with the agreement presented.
What has been highlighted is primarily such things that concern individual sectors that have been in focus since Donald Trump became president again. It is difficult to say if it is particularly comprehensive, but it doesn't sound so if one is to be completely honest, says Sundström.
Signal about scaling down
She adds that the negotiations between the countries are not entirely finished, and that the agreement will be finalized during the coming weeks. The message can, however, be seen as a signal that the US wants to scale down the trade war with the rest of the world.
We have also received signals about upcoming talks between the US and China, and Trump who means that the US is close to reaching a trade agreement with many other countries. It is always very difficult to know what it actually means, but I think the rhetoric suggests that one wants to scale down, says Sundström.
