U.S. President Donald Trump is expected to announce a new trade agreement between the United States and the United Kingdom on Thursday, according to a report by The New York Times citing three sources familiar with the matter.
Trump hinted at the deal in a post on his social media platform, Truth Social, stating he would host a press conference at 10 a.m. EDT (1400 GMT) in the Oval Office to reveal a “major trade deal with representatives of a big, and highly respected, country,” written in all capital letters. He did not provide further details but suggested it would be the “first of many.”
While the White House declined to comment on the report, a British official said on Tuesday that both nations had made significant progress in negotiations. The deal is expected to include reduced tariff quotas on steel and automobiles.
This potential agreement comes amid a broader U.S. effort to renegotiate trade terms with various countries. On April 2, Trump imposed a 10% tariff on most nations and announced plans for “reciprocal” tariff hikes—though those were temporarily suspended for 90 days. The UK was exempt from these additional tariffs, partly due to its trade surplus with the U.S.
In recent weeks, top U.S. officials have been meeting intensively with global trade partners. Trump has already levied 25% tariffs on imports of autos, steel, and aluminum from countries like Canada and Mexico, and a steep 145% tariff on goods from China.
On Tuesday, Trump said he and his team would evaluate several potential trade deals over the next two weeks. He also mentioned ongoing discussions with India, South Korea, and Japan regarding future agreements.