U.S. AND BRITAIN TO ANNOUNCE TRADE DEAL – A deal would be the second for Britain in a week after it clinched a free trade pact with India
U.S. President Donald Trump is expected to announce a trade deal between the United States and Britain today, citing three people familiar with the plans.
Trump posted on Truth Social that he would hold an Oval Office news conference at 10 a.m. EDT (2pm GMT) about a “major trade deal with representatives of a big, and highly respected, country,” using all capitalized letters. He did not offer more details but said it would be the “first of many.”
Sterling jumped against the dollar after the news. A deal would be the second for Britain in a week after it clinched a free trade pact with India.
A UK official said on Tuesday that Britain and the U.S. had made good progress on a trade deal that would likely include lower tariff quotas on steel and autos.
Britain is also in “active discussions” with top U.S. officials over the 100% tariff on all movies produced outside the U.S. announced by Trump, creative industries minister Chris Bryant told parliament on Wednesday.
The news of a U.S.-UK trade deal comes as U.S. and Chinese officials prepare to hold talks in Switzerland on Saturday, which could mark the first step in resolving a potentially damaging trade war between the world’s top two economies.
