Trump to Announce Major Trade Deal with UK Amid Broader Tariff Push

U.S. President Donald Trump said he will announce a major trade agreement with a “highly respected country” on Thursday, with reports suggesting the partner is the United Kingdom. In a post on Truth Social, Trump wrote, “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL… THE FIRST OF MANY!!!” According to The New York Times, three sources confirmed the deal is with the UK.

While full details of the agreement remain unclear, discussions have reportedly included reducing tariffs on both British and American goods. It is also uncertain if the announcement will involve a finalized deal or a preliminary framework for future negotiations.

This marks the first major trade agreement since Trump introduced his “reciprocal tariffs” in early April. Though he delayed their enforcement by 90 days to encourage negotiations, the UK has largely avoided the harshest tariffs due to its trade imbalance favoring U.S. imports. However, Britain still faces a universal 10% tariff and sector-specific duties, including 25% on steel, aluminum, and automobiles. The NYT reports that these tariffs are unlikely to be lifted as part of the deal.

Trump’s broader trade agenda includes bilateral negotiations with several major economies and a tough stance on China. Later this week, Treasury Secretary Scott Bessent is scheduled to meet Chinese officials in Switzerland. However, any breakthrough appears doubtful after Trump reaffirmed he would not lower the 145% tariffs currently imposed on Chinese goods—an issue Beijing sees as a precondition for meaningful talks.

The potential UK trade deal reflects Trump’s push for direct, reciprocal trade arrangements while maintaining a hardline approach on global tariffs. Investors are watching closely as these negotiations unfold.