On Thursday, President Donald Trump plans to announce a new trade agreement with the United Kingdom, marking a significant milestone as it would be the first trade deal established by the U.S. with a nation recently subjected to his tariffs.
The announcement is scheduled to take place at 10 a.m. ET from the Oval Office. Although UK Prime Minister Keir Starmer will not be present in Washington, he is anticipated to join the event remotely, as reported by Finance Newso’s Eamon Javers.
Earlier in the day, Trump took to Truth Social to express his enthusiasm for the agreement, stating, “The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come.”
He further emphasized the importance of the U.S.-UK relationship, sharing, “Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!”
However, officials at 10 Downing Street indicated that discussions regarding the trade deal are still in progress. A spokesperson mentioned, “Talks on a deal between our countries have been continuing at pace and the Prime Minister will update later today,” following a report by The New York Times about the U.S.-UK announcement.
The Downing Street statement additionally reaffirmed that Starmer will prioritize “Britain’s national interest” and acknowledged the U.S. as “an indispensable ally for both our economic and national security.”
In April, Trump imposed a 10% blanket tariff on the UK as part of his initiative dubbed “liberation day,” which he described as “reciprocal” duties applied to nearly every nation globally. The UK is also facing additional U.S. tariffs on imports of steel, aluminum, and foreign-manufactured vehicles.
After facing backlash and a decline in the market, Trump retracted the reciprocal tariffs and opted for a 90-day “pause,” instituting a uniform 10% tariff rate for the affected countries, excluding China.
At the time, Trump asserted that the decision to pause was prompted by numerous countries reaching out to negotiate new trade arrangements with the U.S.
This is developing news. Please check back for updates.
