Trump confirms trade deal with UK: 'Full and comprehensive'

President Donald Trump on Thursday morning confirmed a new "full and comprehensive" trade deal with the United Kingdom. 

"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," Trump wrote on TRUTH Social on Thursday. "Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!

"This should be a very big and exciting day for the United States of America and the United Kingdom," Trump added. "The Golden Age of America is coming!" 

Trump wrote Wednesday that a deal would be announced during a news conference from the Oval Office, but he did not specify which nation the agreement was with at the time. 

"Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!" Trump wrote.

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The New York Times, citing three people familiar with the plans, first reported that Trump was expected to announce a trade deal with the U.K. 

As of April 5, the U.S. has imposed a 10% reciprocal tariff on imports from the U.K. The Trump administration’s 25% global tariff on cars took effect on April 3, impacting all imported vehicles, even from traditional U.S. allies, including the U.K. A 25% tariff on U.S. imports of steel, aluminum and derivative products took effect on March 12. 

Prior to April 2025, most U.K. goods exported to the U.S. were subject to standard, relatively low tariffs, mostly ranging from 0 to 2.5%, with higher rates only for specific products like steel, aluminum, and some vehicles. The U.K., meanwhile, imposed tariffs on U.S. imports based on the World Trade Organization’s "Most Favored Nation" or MFN rules. 

The U.K.’s average MFN applied tariff rate was 3.8% in 2023, according to the most recent data available. The UK has some high tariffs that affect U.S. exports, such as rates of up to 25% for some fish and seafood products, 10% for trucks, 10% for passenger vehicles, and up to 6.5% for certain mineral or chemical fertilizers.

The U.S. goods trade surplus with the U.K. was $11.9 billion in 2024 – a 17.4%, or $1.8 billion, increase over 2023.

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The deal announced Thursday is the second for Britain in a week after it clinched a free trade pact with India.

A U.K. official said on Tuesday that Britain and the U.S. had made good progress on a trade deal that would likely include lower tariff quotas on steel and autos.

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The news of a U.S.-U.K. trade deal comes as U.S. and Chinese officials prepare to hold talks in Switzerland on Saturday, which could mark the first step in resolving a potentially damaging trade war between the world's top two economies.

Trump's trade war has shaken up financial markets and raised fears of a recession, with central bankers and business executives wrestling with often chaotic policymaking that is rippling through world supply chains and a whole host of industries.

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The International Monetary Fund last month slashed its growth forecasts for the United States, China and most countries, citing the impact of U.S. tariffs and warning that rising trade tensions would further slow growth.

Reuters contributed to this report.