Reports emerge following US President’s hint at a trade agreement with an unnamed nation.
US President Donald Trump is expected to disclose a trade agreement with the United Kingdom on Thursday, as per reports by US media, marking the initial such agreement since his implementation of broad tariffs.
These reports follow Trump’s Wednesday teaser on social media about a deal with an unspecified country.
“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,” Trump announced on his Truth Social platform. “THE FIRST OF MANY!!!”
While The New York Times, alongside The Wall Street Journal, Politico, and CNN, reported the development, it remains unclear whether the agreement has been finalized.
Investors have awaited signs of a de-escalation in Trump’s trade conflicts amid concerns that prolonged tariff uncertainty could severely harm the global economy.
The International Monetary Fund reduced its global growth forecast for 2025 from 3.3 percent to 2.8 percent last month due to the ongoing trade tensions initiated by Trump.
This week, US and Chinese officials confirmed plans for their first round of trade discussions in Switzerland, igniting hopes for a resolution to the de facto mutual trade embargo between the world’s two leading economies.
Despite being exempt from Trump’s “reciprocal” tariffs levied against numerous countries recently, UK exports have been subjected to a 10 percent “baseline” duty since April 9.
In 2024, the trade in goods and services between the US and the UK amounted to 314.6 billion pounds ($419bn), representing a 3.9 percent increase from the previous year, according to the UK’s Department for Business and Trade.
UK Prime Minister Keir Starmer has recently unveiled the completion of a “landmark” trade deal with India, projecting it to add 4.8 billion pounds ($6.4bn) annually to the UK economy.
These reports follow Trump’s Wednesday teaser on social media about a deal with an unspecified country.
“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,” Trump announced on his Truth Social platform. “THE FIRST OF MANY!!!”
While The New York Times, alongside The Wall Street Journal, Politico, and CNN, reported the development, it remains unclear whether the agreement has been finalized.
Investors have awaited signs of a de-escalation in Trump’s trade conflicts amid concerns that prolonged tariff uncertainty could severely harm the global economy.
The International Monetary Fund reduced its global growth forecast for 2025 from 3.3 percent to 2.8 percent last month due to the ongoing trade tensions initiated by Trump.
This week, US and Chinese officials confirmed plans for their first round of trade discussions in Switzerland, igniting hopes for a resolution to the de facto mutual trade embargo between the world’s two leading economies.
Despite being exempt from Trump’s “reciprocal” tariffs levied against numerous countries recently, UK exports have been subjected to a 10 percent “baseline” duty since April 9.
In 2024, the trade in goods and services between the US and the UK amounted to 314.6 billion pounds ($419bn), representing a 3.9 percent increase from the previous year, according to the UK’s Department for Business and Trade.
UK Prime Minister Keir Starmer has recently unveiled the completion of a “landmark” trade deal with India, projecting it to add 4.8 billion pounds ($6.4bn) annually to the UK economy.
