Former President Donald Trump announced on Thursday a new trade agreement with the United Kingdom, marking his administration’s first major deal since sweeping tariffs sent global markets into turmoil last month.
In a social media post, Trump called the pact “full and comprehensive,” though specific details remain undisclosed. A formal announcement is expected from the Oval Office at 10 a.m. ET. The deal follows intense diplomatic efforts triggered by Trump’s April 2 rollout of broad 10% tariffs on all imports, coupled with punitive “reciprocal tariffs” aimed at reshaping global trade flows.
While the U.K. was not directly targeted by the steepest hikes, its exports—including cars, steel, and aluminum—faced elevated sector-specific duties. Trump partially rolled back his country-specific tariff escalation following sharp market declines, temporarily pausing the new hikes for 90 days while keeping key industry tariffs intact.
Despite criticism from economists over inflation and potential supply shortages, Trump officials credit the tariffs with bringing multiple countries, including Japan, South Korea, India, and Vietnam, to the negotiation table. Upcoming talks with China’s He Lifeng in Switzerland may signal further developments in Trump’s aggressive trade agenda.