Here are my thoughts:
- It is more detailed than a mere framework for further negotiations, but it isn’t a true trade agreement, as lots of work remains;
- It is low hanging fruit, from Trump’s perspective, given that we don’t have a trade deficit with the UK;
- It represents the limits of the possible with a liberal democratic state. It doesn’t guarantee that trade will be balanced in the future; it doesn’t in any way require the British public to buy any of our goods; it leaves controversial British health and safety requirements in place; and it focuses on a limited number of kinds of goods. As such, it suggests that the American ideologues who see tariffs and managed trade agreements as the gateway to the Godly Society are going to be sadly disappointed; farmers will profit, but nothing about the deal suggests that an American manufacturing renaissance is imminent.
- The mere fact that it exists is better than nothing.