US and Britain expected to announce tariff deal on Thursday

8/5/2025 15:52

The United States and Britain are expected to announce a deal to lower tariffs on some goods on Thursday, the first such agreement since U.S. President Donald Trump imposed levies on countries around the world.



Trump posted on Truth Social that he would hold an Oval Office news conference at 10 a.m. EDT (1400 GMT) on Thursday about a "major trade deal with representatives of a big, and highly respected, country."



A British government spokesperson said Prime Minister Keir Starmer would give an update on U.S.-UK trade talks later on Thursday. Two British people familiar with the situation said the outline of an agreement would be announced.



"The United States is an indispensable ally for both our economic and national security," a Downing Street spokesperson said. "Talks on a deal between our countries have been continuing at pace and the Prime Minister will update later today."



A British official had said on Tuesday that the two sides were working to agree lower tariff quotas - a tranche of exports subject to lower duties - on steel and autos, two sectors that were hit by 25% U.S. levies.