President Trump announced on Thursday morning that the United States had reached a major trade deal with the United Kingdom, calling it a "very big and exciting day" for the close allies. He also promised that more trade deals with other nations would soon follow, after the global economic upheaval triggered by his 'Liberation Day' tariffs.
The deal also represents a major political victory for UK Prime Minister Keir Starmer, who had been quietly working with the White House on the negotiations for several weeks. Trump had hinted on Wednesday evening that he would make a major announcement on trade deal from the Oval Office at 10 a.m. on Thursday.
First Major Victory for Trump and Starmer
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," Trump said in a Truth Social post.
"Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!" "The Golden Age of America is coming!" he added.
The president also hinted that the full details of the deal would be revealed during a press conference in the Oval Office later Thursday morning. "This should be a very big and exciting day for the United States of America and the United Kingdom," he said.
The deal marks the first trade pact the Trump administration has finalized with a foreign country since the president announced sweeping tariffs on U.S. trading partners last month.
Dubbed "Liberation Day" tariffs, the tariffs were introduced on April 2 and included a standard 10% duty on most nations set to begin on April 5, followed by steeper reciprocal tariffs scheduled to kick in on April 9.
However, just days after the announcement, the president halted the higher tariff rates for 90 days, saying that several countries had requested a delay to renegotiate trade terms with the U.S.
While the United Kingdom remains subject to the 10% baseline tariff, it was spared from the harsher reciprocal duties. The U.S. ally, however, still faces a 25% import duty on foreign steel, aluminum, and vehicles imposed by Trump.
More Trade Deals to Follow
Treasury Secretary Scott Bessent revealed last month that the administration had scheduled trade talks with 70 governments aiming to avoid the new tariffs. Besides, countries like Japan, Australia, India, South Korea, Israel, and Vietnam were among the top priorities in Bessent's initial round of trade negotiations.
The Trump administration also appears to be nearing trade deals with both India and Israel, the New York Times reported. Earlier this week, Trump suggested there was no urgent need for the U.S. to hastily enter into new trade deals.
"Everyone says, 'When, when, when are you going to sign deals?'" Trump told Canadian Prime Minister Mark Carney during an Oval Office meeting.
"We don't have to sign deals. We could sign 25 deals right now, Howard, if we wanted to," the president continued.
In an interview with Laura Ingraham on Fox News' "Ingraham Angle," Bessent referred to the president's seemingly indifferent stance on negotiating new trade deals as a form of "strategic uncertainty" designed to help the U.S. secure "the best final deal possible."
The Treasury Secretary is scheduled to attend important trade meetings with Chinese officials this weekend in Switzerland, marking the first formal negotiations between the U.S. and China since Trump's re-election.
