8 May 2025, 05:17 | Updated: 8 May 2025, 05:39
Picture:
Alamy
Donald Trump is set to announce a trade deal with the UK, reports claim, after he teasing he was making an agreement.
The US President teased he would be announcing a major trade deal on Thursday, without specifying which country it was agreed with.
On Wednesday he said he was to hold a news conference with “representatives of a big, and highly respected, country”.
Three sources familiar with the reported plans told the New York Times the president would announce a UK – US trade deal.
After the report emerged, the British pound rose by 0.4% against the US dollar.
in the Oval Office of the White House, Wednesday, May 7.
Picture:
Alamy
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Trump said the trade announcement would be the “first of many”
A White House spokesperson declined to comment on the New York Times report.
Britain was not among the countries hit with high reciprocal tariffs during Trump’s “liberation day” on April 2.
The US president slapped a 10% tariff on countries across the globe during the announcement.
However the reciprocal tariffs were then suspended for 90 days as Trump rowed back on the decision.
However, the UK was still hit with a 25% tariff on cars, plus all steel and aluminium imports to the US.
Last week, Trump said he has “potential” trade deals with South Korea, Japan and India.
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Film tariffs are expected to form part of UK-US trade talks after Trump threatened to impose 100% tariffs on all foreign films imported to the United States.
In response to Trump’s film tariffs, the UK government said trade talks with Washington were in the process and it was taking a “calm and steady approach” to discussions in an attempt to “ease pressure on UK businesses”.
Philippa Childs, head of the Broadcasting, Entertainment, Communications and Theatre Union (Bectu), said the UK industry is “only just recovering” from the impact of the Covid-19 pandemic, when many productions were delayed or cancelled.
“The UK is a world leader in film and TV production, employing thousands of talented workers, and this is a key growth sector in the Government’s industrial strategy,” she said.
