Trump teases 'major trade deal' announcement amid tariff fight
President Donald Trump is set to announce a significant trade deal with the United Kingdom today, marking the first major agreement since his administration imposed sweeping tariffs on several countries. The announcement is scheduled for 10:00 A.M. in the Oval Office, as teased by Trump on his Truth Social platform, where he described the deal as a "major trade deal" with a "big, and highly respected, country" .
The deal comes after Trump imposed a 10% tariff on most UK exports and a 25% tariff on cars, steel, and aluminum in April. UK Prime Minister Keir Starmer has been actively negotiating to reduce these tariffs, particularly focusing on the car industry, which faces nearly $12 billion in U.S. tariffs.
While the specifics of the agreement remain undisclosed, it is expected to ease some of the previously imposed tariffs. This move could signal a shift in Trump's trade policy and may pave the way for similar agreements with other nations, including India, South Korea, and Japan.
The announcement has already impacted financial markets, with the British pound rising by 0.4% to $1.3341, indicating investor optimism about the deal's potential benefits .
This development is significant for both the U.S. and the UK, as it represents a potential easing of trade tensions and could have broader implications for global trade relations.
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