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Sen. Kevin Cramer, R-N.D., and Sen. Bill Hagerty, R-Tenn., break down tariff negotiations under President Donald Trump on ‘Kudlow.’
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 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!"
Writing on Truth Social on Wednesday, President Trump said the deal would be announced during a news conference from the Oval Office.
"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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President Donald Trump on Wednesday teased the announcement of a new trade deal that is expected to be between the United States and Britain on Thursday, according to the New York Times. (REUTERS/Leah Millis / Reuters)
The post comes after The New York Times, citing three people familiar with the plans, reported that Trump was expected to announce a trade deal with the U.K.
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A deal would be the second for Britain in a week after it clinched a free trade pact with India.
President Donald Trump speaks to the media after signing executive orders in the Oval Office. (Saul Loeb/AFP via Getty Images / Getty Images)
A UK 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.
The April jobs report, which released just following President Donald Trump’s first 100 days in office, came in better than expected with 177,000 new payrolls. (Scott Olson/Getty Images / Getty Images)
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.