US President Donald Trump just announced the first trade deal between the US and the United Kingdom since he imposed higher tariffs on imports in April that shook global markets.

In a post on the social media platform Truth Social, Trump says the deal will raise $6 billion in external revenue from 10% tariffs.

The president says the agreement will also open $5 billion in export opportunities for U.S. farmers, ranchers, and producers and bolster national security for both the US and the U.K. by creating an aluminum and steel trading zone and a pharmaceutical supply chain.

“Today is an incredible day for America as we deliver our first Fair, Open, and Reciprocal Trade Deal — Something our past Presidents never cared about….