US President Donald Trump is to announce a new trade deal with the UK on Thursday. The New York Times reports this with reference to three informed sources.
Trump wrote on Truth Social that he would hold a press conference in the Oval Office at 14:00 GMT (17:00 Kyiv time) to present “an important trade agreement with representatives of a great and respected country.” Tariffs on steel and cars are expected to be reduced.
London and Washington agree on duties
The British official confirmed that the parties have made significant progress, including reducing tariff quotas on steel and cars. Last week, the UK already signed a free trade agreement with India, and now it is seeking to secure a strategic partnership with Washington.
Following the announcement of the talks, the pound sterling rose against the US dollar.
Film taxis and new challenges for London
The British government is also negotiating a 100% tax on foreign films announced by Trump. British Minister of Creative Industries Chris Bryant said in parliament that the issue is being actively discussed.
US – China, tariff wars and threats
The announcement comes amid preparations for US-China talks in Switzerland, which could be the first step towards easing trade tensions.
The stock market has already reacted to the news: investors are watching Washington’s actions, which affect global supply chains and GDP growth forecasts.
New deals on the way
Trump also hinted that this is only the first of a series of deals. Potential partners include India, Japan, and South Korea.
“We will review potential deals and decide which ones are worth making,” Trump said.
