Washington celebrates that "it has been possible because we blew up the whole system," while London considers it a "start," but not the end, and resists accepting a relaxation of phytosanitary standards.

The U.S. has a $12 billion trade surplus with the United Kingdom, meaning it already exports more than it imports. Meanwhile, the baseline 10% tariff Trump announced April 2 will remain in effect for most U.K. imports, which could lead to higher prices for consumers.

The United States is settling for a tiny fraction of what it could have achieved through traditional free-trade agreements.

Fog in channel, Continent cut off,” is a very old joke about an alleged British newspaper headline regarding weather over the English Channel. Even a brief visit to the British

Final details are under wraps but Trump promised the deal provides billions of dollars in access for U.S. agricultural products like beef and ethanol.

Opposition to Trump may have jumped the gun on the doom and gloom forecasts. Trump's string of deals and demands have moved markets to recovery. Major indices have since exceeded both their April 1 closes and predictions.

Hailed by Britain’s prime minister in superlatives, the deal opens up significant opportunities. Its success will depend on what comes next.

The trade agreement in principle with the United Kingdom could be an opportunity for the state’s ethanol industry. Wendy Osborn says Ohio is currently the 7th largest producer of ethanol in the country.