US and UK secure crucial trade deal - Donald Trump
By Abigail Townsend
Date: Thursday 08 May 2025
(Sharecast News) - The US has signed a "full and comprehensive" trade deal with the UK, Donald Trump insisted on Thursday, just weeks after unveiling his sweeping global tariff regime.
In a post on Truth Social, Trump said the agreement was a "full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come".
He continued: "Because of our long time history and allegiance together, it is a great honour to have the United Kingdom as our first announcement."
He provided no further details.
Speculation had been rife that a deal had been signed, however, after an earlier post by Trump promised a "big" news conference at 1500 BST about a "a major trade deal with representatives of a big and highly respected country".
Keir Starmer's spokesperson declined to comment on the latest social media update from the president, other than to note: "You've got his words and we've always been clear that we want to do a deal that's in the British national interest, and support a substantial UK-US trading relationship.
"Those talks are continuing and we look forward to providing update later today."
The deal will be seen a key political win for the prime minister. It will also be the second key trade pact secured by the UK in a week, after terms were agreed with India.
However, despite Trump's latest post, the US deal is still widely expected to be limited in scope. It will also likely fall far short of a post-Brexit free trade agreement that the previous Conservative government had been pursuing without success.
Instead, the pact is expected to focus on reducing tariffs on British car and steel exports. It is thought that the 10% baseline tariff will remain in place, despite attempts by the UK team to persuade Washington to reduce it.
In return, Britain is expect to cut duties on some US imports. The digital services tax - which hits American tech firms especially hard - could also be reduced.
Trump upended global markets on 2 April when he imposed swingeing tariffs worldwide.
The UK was deemed to be friendly to American interests, and so escaped the higher rates imposed elsewhere, such as China and the European Union.
But a 10% baseline was still imposed on all UK imports. Car and steel exports were already subject to a 25% tariffs, announced earlier in the year by Trump.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN