Reports indicate that President Trump will announce a trade agreement with the UK on Thursday morning. This marks the first deal since he proposed sweeping tariffs on US trading partners last month.
Late Wednesday, the New York Times broke the news about the upcoming agreement, referencing sources familiar with the situation.
Specifics about the deal haven’t been disclosed yet.
The White House has not responded to requests for comments regarding this announcement.
On Wednesday, Trump hinted at a significant meeting in the Oval Office about this “major trade agreement,” though he didn’t pinpoint which nation was involved.
He mentioned a large press event scheduled for 10 a.m., describing it as about important trade contracts with a respected country.
His tweet read, “Many first!!!”
Trump’s new tariffs, termed “liberation date” tariffs, had been announced earlier, imposing a 10% fee on most countries beginning April 5, followed by a steeper tariff due to start on April 9.
Following this announcement, he suspended the higher tariffs for 90 days, citing that numerous countries wanted to renegotiate trade agreements with the US.
The UK will face a 10% baseline fee but has not experienced higher tariffs. Meanwhile, US allies are subject to a 25% import fee on steel, aluminum, and automobiles as part of Trump’s regulations.
Treasury Secretary Scott Bescent revealed last month that consultations occurred with around 70 foreign governments to mitigate tariffs.
These consultations were expected to shape the focus of new trade negotiations with countries like the UK, Japan, Australia, India, South Korea, Israel, and Vietnam.
There are also indications that the administration is working towards agreements with India and Israel, as the Times reports.
This week, Trump emphasized the urgency for the US to finalize new trade agreements.
During a meeting with Canadian Prime Minister Mark Kearney, Trump remarked that there’s no need to wait to sign contracts, suggesting that they could finalize multiple agreements simultaneously.
In a conversation with Fox News host Laura Ingraham, Bescent described the president’s seemingly erratic stance on negotiations as part of the strategic uncertainty needed to secure the best deals.
Lastly, Bescent is scheduled to engage in high-level discussions with China over the weekend, focusing on its trade practices and the impacts related to fentanyl and retaliatory measures on US exports.
