WASHINGTON (AP) — President Donald Trump agreed on Thursday to cut tariffs on U.K. autos, steel and aluminum in a planned trade deal but played down the possibility of other nations getting similarly favorable terms on his import taxes, which are roiling the global economy.

Under the framework agreement, the United Kingdom is to buy more American beef and ethanol and streamline its customs process for goods from the United States. But Trump’s baseline 10% tariffs against British goods are to stay in place, and the Republican president suggested that even higher import taxes would be charged on other countries trying to reach deals with the U.S.

“That’s a low number,” Trump said of the U.K.’s 10% tariff rate, adding that other countries would face higher tariff rates in their deals because the U.S. runs trade deficits with them and “in many cases they didn’t treat us right.”

The announcement provided a political victory for U.K. Prime Minister Keir Starmer and offered a degree of validation for Trump’s claims that his turbulent approach on trade may be able to rebalance the global economy on his preferred terms. But it also could temper the expectations of the European Union and others negotiating with the U.S. in hopes of mutually slashing tariffs to zero.

The U.S. president talked up the framework to reporters in the Oval Office, although the fine print remains in flux despite his prior statements that a full agreement had been signed “In the coming weeks, we’ll have it all very conclusive,” Trump said.

The president said that the agreement would lead to more beef and ethanol exports to the U.K., and streamline the processing of U.S. goods through customs. Commerce Secretary Howard Lutnick said that the baseline 10% tariffs would stay in place and that an unspecified British company would be announcing the purchase of $10 billion in aircraft from Boeing.

U.K. officials said that Trump’s auto tariffs would go from 27.5% to 10% on a quota of 100,000 vehicles and the import taxes on steel and aluminum would go from 25% to zero. Starmer said Britain would preserve its health and safety standards on food products.

The U.K. government also said it would also reduce tariffs on 2,500 U.S. products such as olive oil, wine and sports equipment, bringing down the average tariff rate 1.8%.

Starmer, speaking over the phone to Trump while reporters listened in, stressed the importance of the relationship between the two countries as the anniversary of the World War II victory in Europe was being commemorated.

“To be able to announce this great deal, on the same day 80 years forward, almost at the same hour,” Startmer said, “I think is incredibly important and makes this truly historic.”

Starmer later spoke to workers at a Jaguar Land Rover plant and promoted the deal, which he said would protect thousands of auto jobs.