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President Donald Trump has hinted at what he called a “major trade deal” expected to be announced Thursday, with sources indicating that the United Kingdom will be the partner country. The deal could be the first sign of easing in a period marked by intense global trade tensions and steep tariffs.
A Big Announcement Coming Thursday 📢
Trump posted on Truth Social late Wednesday, teasing a big press event at 10 a.m. in the Oval Office. While he didn’t name the country directly, officials familiar with the matter confirmed the deal involves the UK.
Peter Navarro, Trump’s top trade adviser, told CNN earlier this week that the UK might be first to finalize a deal, ahead of India, Japan, or South Korea. “We’ve got a little twist in the India story, but I assure the American people deals are coming,” Navarro said.
What Could the Deal Include?
According to reports from the Financial Times, the trade agreement might remove some non-tariff restrictions—like the UK’s 2% digital services tax aimed at U.S. tech firms. In return, the U.S. may ease or eliminate its 25% tariffs on British steel, aluminum, and vehicles.
For weeks, Trump administration officials have stated they are close to deals with several nations. Still, no formal agreements have been signed—until possibly now.
A Real Deal or Just a Memorandum?
Experts caution against expecting a full-fledged trade deal. Jacob Jensen of the American Action Forum notes that comprehensive trade agreements usually take years to finalize. “More likely, this is a memorandum of understanding that offers short-term relief but lacks long-term economic weight,” Jensen explained.
The administration recently paused a set of reciprocal tariffs for 90 days, effective April 9, but that window is already one-quarter over. If meaningful deals aren’t reached soon, Trump may reinstate tariffs before the July 8 deadline.
Will Trump Stick With It?
Even if the deal is finalized, history shows Trump may not stick with it. During his first term, he helped pass the USMCA deal with Canada and Mexico, only to reintroduce tariffs on those same countries shortly after. His aggressive use of tariffs has also disrupted numerous long-standing trade agreements.
US-China Talks Show Possible Thaw
This announcement follows another possible sign of easing trade tensions. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are scheduled to meet with Chinese officials in Geneva this weekend.
While Bessent warned not to expect a major breakthrough, the meeting could be an early step toward reducing the extreme tariffs—currently up to 145% on Chinese imports and 125% on U.S. goods headed to China.
Still, Trump remains firm on not lowering tariffs ahead of negotiations. “No,” was his blunt response when asked whether he would roll back tariffs to bring China to the table.
Economic Pressure Mounting
Trump’s trade wars have already left a mark. The U.S. economy contracted for the first time in three years during Q1, partly due to businesses stockpiling goods ahead of what Trump dubbed “Liberation Day” tariffs.
Tariffs are now in place on nearly every country exporting goods to the U.S., including a 10% universal tariff and 25% duties on key sectors like steel, aluminum, and autos.
Federal Reserve Chair Jerome Powell warned this week that prolonged tariff policies could harm the U.S. economy further. Global institutions including the IMF and World Bank have echoed similar concerns, forecasting slower growth and rising inflation due to these trade battles.
The World Is Watching
As Trump prepares to unveil the new trade deal on Thursday, markets, businesses, and governments worldwide are paying close attention. Whether this leads to long-term trade normalization or just a short-term political move remains to be seen.
