A major deal between the US and the UK is expected to be announced today to ease Donald Trump’s tariffs – with the US President due to hold a press conference this afternoon
A major deal between the US and the UK is expected to be announced today to ease Donald Trump’s tariffs.
After months of intense negotiations, the Labour government appears to have got an agreement over the line. If Mr Trump does announce a deal with the UK, it will be the first deal since he announced the tariffs on April 2, in a major win for Keir Starmer.
Nations across the world have since been scrambling to get a deal to ease levies slapped on any imports going into the US. It comes after Mr Trump unleashed a wave of tariffs on so-called “Liberation Day”.
Last night, the US president teased the announcement of a “major trade deal” with a “big, highly respected country” in a post on his Truth Social platform overnight, and a press conference is expected at about 3pm UK time.
Mr Trump said: “Big News Conference tomorrow… The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!”
The Government has been pursuing a deal with the US to reduce the impact of sweeping tariffs imposed by Mr Trump last month, which placed a 10% levy on all UK exports and a 25% charge on steel, aluminium and cars.
Defence Secretary John Healey this morning refused to confirm an announcement was coming today, saying: “If there’s an announcement, that’s for Trump when he chooses to make it.”
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The Cabinet minister said: “You wouldn’t expect me to pre-empt what the Prime Minister or the President may say. But what this reminds us about is just how indispensable the US is as an ally to the UK on economic security and on national security, and we’ve been conducting hard negotiations with the US ever since Keir Starmer went to the White House in February trying to secure a good economic deal for Britain.”
Reports have swirled in recent months that US tech billionaires could get a tax cut as part of the deal, with the digital services tax said to be on the table in trade talks. Elsewhere ministers have ruled out lowering food standards to allow more US agricultural products into the country, or watering down the Online Safety Act, which some in the US regard as placing restrictions on freedom of speech.
Pressed on what will be in the deal, Mr Healey added: “I’m confident our negotiators will secure a good deal with the US. They’re an indispensable for our economic security.”
Downing Street said the Prime Minister will give an update later today. A Number 10 spokeswoman said talks with the US had been “continuing at pace and the Prime Minister will update later today”.
The Number 10 spokeswoman 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.”
A UK-US trade deal announcement comes just two days after the PM revealed he had secured a trade deal with India, three years after Boris Johnson pledged to sign one.