WASHINGTON (NewsNation) — President Donald Trump has announced an agreement with the United Kingdom on tariffs, the first in what he claims is a series of trade deals negotiated under his administration.
In a social media post Thursday, he called the agreement “a full and comprehensive one” that will “cement the relationship” between the two nations for years to come.
He said the U.K. was chosen first due to the country’s shared history and alliance, and hinted that more deals are “in serious stages of negotiation.”
A news conference is scheduled for 10 a.m. ET in the Oval Office.
Trump: More trade deals on the horizon
Trump has long touted upcoming trade deals and has said his administration is in talks with countries including India, Japan and South Korea. Earlier this week, he reiterated that more deals are on the horizon.
“I can announce 50 to 100 deals right now because I’m the shopkeeper and I keep the store,” Trump said. They can go shopping, or they don’t have to go shopping because everybody wants to shop here. This is like a beautiful store.”
Thursday’s announcement comes hours after the Federal Reserve opted to keep interest rates unchanged, despite Trump’s push for a rate cut to ease pressure from his trade policies.
With no relief, Trump appeared to be turning to trade deals to stimulate the economy and boost markets.
Trump is not relenting on China tariffs
Trump has remained firm on China, however, refusing to lower his 145% tariff to restart negotiations.
Treasury Secretary Scott Bessent and his Chinese counterpart are set to meet this weekend in Switzerland — the first in-person talks since the trade escalation began.
Vice President JD Vance previewed the meeting and the administration’s outlook for any global trade deals ahead of the talks, describing a cautiously optimistic but firm approach.
“We want to rebalance trade in the interest of American workers, in the interest of American manufacturers. That is our policy,” Vance said at the Munich Security Conference in February. “We think that we can do that while preserving at least an open dialogue with the PRC (People’s Republic of China) and a lot of other nations all over the world. But that doesn’t mean the old way of doing business is going to be stable or that it’s going to persist.”
China, in turn, has reaffirmed its opposition to the tariffs.
“China is open to dialogue, but any dialogue must be based on equality, respect and mutual benefit,” a foreign ministry spokesperson said.
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Author: Libbey Dean
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