UK strikes $4.9 bn deal with Gulf states, first among G7 members

The UK on Wednesday announced a £3.7 billion ($4.9 billion) trade deal with six Gulf States, marking the first such deal among G7 members. The deal is expected to remove about £580 million in tariffs a year, and some of UK's exports are expected to become duty-free. The deal comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.