Trump Administration to Announce Trade Deal With Britain

President Trump is set to announce an upcoming trade agreement with Britain on Thursday, as reported by three sources familiar with the matter.

Mr. Trump hinted at the trade agreement in a social media post on Wednesday night, without specifying the country involved in the deal.

“Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” he wrote.

A White House spokesperson declined to provide further details beyond Mr. Trump’s post. The British Embassy in Washington did not respond to requests for comment.

This potential agreement would be the first one announced since Mr. Trump imposed tariffs on numerous U.S. trading partners. These tariffs were later paused to allow for negotiations with other countries.

A trade deal between the United States and Britain could prove beneficial for both nations, as they have expressed interest in closer economic cooperation.

Specific details of the agreement are not yet clear. Discussions have included the possibility of reducing British tariffs on U.S. cars and farm goods, as well as eliminating British taxes on U.S. technology companies. It remains uncertain whether the deal has been finalized or if it will be an announcement of a negotiation framework to be further discussed in the coming months.

The Trump administration has been actively pursuing trade deals with other countries and imposed tariffs on several trading partners on April 2. However, the administration quickly paused most of these tariffs for 90 days to facilitate trade negotiations.

While a 10 percent global tariff remains in place, including on Britain, the administration has not indicated any plans to remove this tariff as part of a trade deal.

Britain is currently subject to a 25 percent tariff on foreign steel, aluminum, and automobiles imposed by Mr. Trump, which British officials have been urging to lift.

Mr. Trump’s interest in a trade deal with Britain dates back to his first term, with negotiations initiated but no final agreement reached. British officials have been looking into a trade deal with the U.S. post-Brexit to strengthen their economic ties outside of Europe. Despite ongoing efforts during the Biden administration, progress has been limited.

For British Prime Minister Keir Starmer, a trade deal would validate his efforts to cultivate a relationship with Mr. Trump. During a visit to the Oval Office, Mr. Starmer even extended an invitation from King Charles III for a second state visit to Britain.

The Trump administration is also in talks with India and Israel for trade deals, while negotiations with South Korea, Japan, Vietnam, and other nations continue. Mr. Trump’s recent comments on trade deals have displayed his unpredictable approach to economic policy.

“Everyone says ‘When, when, when are you going to sign deals?’” Mr. Trump remarked, emphasizing the U.S.’s position in trade negotiations. Trade experts suggest that Mr. Trump may be focusing on more limited trade deals, as opposed to comprehensive agreements that require congressional approval.

In his first term, Mr. Trump renegotiated various trade agreements, including NAFTA and a deal with South Korea. He also engaged in smaller deals that targeted specific sectors or goods. It’s possible that a framework agreement will be announced, outlining topics for negotiation rather than a finalized deal.

British officials have been working on a trade deal with the EU and recently reached an agreement with India after lengthy negotiations.

Mark Landler contributed to this report.