President Donald Trump is expected to announce a trade agreement Thursday morning, his first since implementing widespread tariffs last month. While the specific nation involved was not confirmed by the White House, reports indicate the deal will be with Britain.
The announcement is scheduled for 10 AM ET in the Oval Office, the President teased Wednesday evening. Administration officials have not provided details about the agreement's terms. It remains uncertain if the expected agreement is a finalized deal or a framework requiring further negotiation UK set to sign a trade deal with US.
The anticipated announcement follows a period of elevated trade tensions after the President rolled out a 10% tariff on all imports on April 2, in addition to what he termed "reciprocal tariffs" aimed at specific countries Trump tariffs trade Canada China. These actions contributed to market volatility Trump economy GDP tariffs recession consumers. While Britain was spared the higher reciprocal duties, it was still subjected to the baseline 10% levy when the President announced his "Liberation Day" tariffs Trump tariffs liberation day.
The U.K.'s Department for Business and Trade acknowledged ongoing talks with the United States. A spokesperson stated the US is an indispensable ally and confirmed discussions toward an economic deal are happening. However, the department declined to comment on specific details or timelines for the negotiations, stating they would take a calm approach aimed at easing pressure on UK businesses.
The Trump administration has engaged in trade talks with several countries since April, including Japan, South Korea, Vietnam, and India. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are also set to meet China's He Lifeng in Switzerland this week US Chinese Switzerland Geneva Trump Xi trade war.
Vice President JD Vance expressed optimism about a potential US-UK trade agreement last month. He said the UK had a "good chance" and believed a beneficial agreement for both countries could be reached.
The President's stance on the necessity of formal trade deals has varied. He recently stated the US does not need to "sign deals," asserting other countries seek access to the US market Trump trade deal tariffs. This followed weeks where administration officials reportedly prioritized securing such agreements Trump India trade deal progress navarro.