The US and UK are poised to announce a major trade deal after Donald Trump touted an agreement with a “highly respected country”.
Trump is set to unveil the deal at a White House press conference at about 3pm UK time. Keir Starmer is also expected to provide an update later today.
It would mark the first US deal agreed with any country since Trump’s “liberation day” announcement of sweeping tariffs last month.
In a post to social media on Wednesday evening, the US president wrote: “Big news conference tomorrow morning at 10:00am [local time], the Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!”
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The prime minister has made a trade deal with the United States a key priority, hoping his diplomacy can reduce the impact of tariffs imposed by Trump earlier this year. This included a general 10 per cent levy on all UK exports and a 25 per cent charge on steel, aluminium and cars, hitting British luxury car makers such as Rolls-Royce and Aston Martin.
Trump has since clarified that the deal is between the UK and the United States, also claiming that the agreement will be “full and comprehensive”.
The US president said: “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.
“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!”
In a statement on Thursday morning, Downing Street promised an “update” from the PM later in the day.
A No 10 spokesperson said: “The prime minister will always act in Britain’s national interest – for workers, for business, for families.
“The United States is an indispensable ally for both our economic and national security.
“Talks on a deal between our countries have been continuing at pace and the prime minister will update later today.”
Speaking this morning at the London Defence Conference as he marked the 80th anniversary of VE Day, Starmer referenced the reports of a UK-US trade deal.
He said: “As you know, talks with the US have been ongoing and you will hear more from me about that later today.
“But make no mistake, I will always act in our national interest, for workers, businesses and families, to deliver security and renewal for our country.”
The Liberal Democrats have reiterated their position that a US-UK trade deal must be subject to a vote in parliament.
The party’s deputy leader, Daisy Cooper, commented: “Parliament must be given a vote on this US trade deal so it can be properly scrutinised.
“A good trade deal with the US could bring huge benefits, but Liberal Democrats are deeply concerned that it may include measures that threaten our NHS, undermine our farmers or give tax cuts to US tech billionaires.
“If the government is confident the agreement it has negotiated with Trump is in Britain’s national interest, it should not be afraid to bring it before MPs.”
Speaking to broadcasters this morning to mark VE Day, defence secretary John Healey declined to comment on the reports of a US-UK trade deal.
Healey told Times Radio: “It’s certainly true that the US is an indispensable ally for the UK, both on economic and national security grounds.
“It’s also true that since the prime minister visited the White House in February we have been in detailed talks about an economic deal.
“But I have to say, throughout that period, ministers like me have been keen to give the negotiations the space to get the best possible deal for the UK.
“So, we just haven’t been giving a running commentary on developments or timelines, so I’m not going to start now.”
Andrew Griffith, the shadow business and trade secretary, welcomed the prospect of the US and UK agreeing a deal, saying it would be “another Brexit benefit”.
He posted on X (formerly Twitter): “A comprehensive UK-US trade deal would be welcome and another Brexit benefit. Restoring growth to the UK also requires reversing Labour’s attacks on business and cutting ‘Red Ed [Miliband]’s’ high energy costs.
“We will of scrutinise the detail of any deal – which should first be announced to parliament.”
On Tuesday, the UK announced it had agreed a “landmark” trade deal with India, which will mean dramatic tariff reductions on scotch whisky and car exports to India.
Announcing the agreement, Starmer said: “We are now in a new era for trade and the economy.
“That means going further and faster to strengthen the UK’s economy, putting more money in working people’s pockets.”
He added: “Today we have agreed a landmark deal with India – one of the fastest growing economies in the world, which will grow the economy and deliver for British people and business.”
This developing news story is being updated and more details will be published shortly.
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