(Reuters) -U.S. President Donald Trump is expected to announce a trade deal between the United States and Britain on Thursday, the New York Times reported on Wednesday, citing three people familiar with the plans. Trump posted on Truth Social earlier 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,” using all capitalized letters. A UK official said on Tuesday that the two countries had made good progress on a trade deal that would likely include lower tariff quotas on steel and autos. Britain was not among the countries hit with additional tariffs, because it imports more from the U.S. than it exports there. Trump has also imposed 25% tariffs on autos, steel and aluminum, 25% tariffs on Canada and Mexico, and 145% tariffs on China.

Source: The Times May 08, 2025 04:26 UTC