The European Commission announced Thursday it has compiled a list of imported goods and items from the United States which could become subject to tariffs.

Whether the deal is politically worth it is a calculation only Sir Keir Starmer’s UK government can make. Certainly it didn’t grant US exporters a huge amount more access to the UK market. But whatever short-term benefit it has given to the UK, it hasn’t done a whole lot for the integrity of the global trading system.

The EU has paused an initial set of retaliatory measures — a response to U.S. duties of 25% on steel and aluminum — to enable negotiations.