In a bid that marks a major change in world trade patterns, U.S. President Donald Trump and UK Prime Minister Keir Starmer have signed a "full and comprehensive" trade deal. The historic agreement, the first such one since the U.S. levied widespread tariffs, is intended to cement economic relations between the two countries as it finds its way through a complicated global environment of trade tensions.
Donald Trump revealed on Thursday that the United States has signed a trade deal with the United Kingdom. In a series of Truth Social posts, the president attested to the fact that the agreement between the two nations is a "full and comprehensive one."
"The United Kingdom agreement is a complete and total one that will solidify the relationship between the United Kingdom and the United States for a long time to come," Trump stated prior to mentioning the significance of the agreement, citing excellent relations between the two nations.
"Due to our long history, time, and commitment to one another, it is an honor to have the United Kingdom as our FIRST announcement. Several other deals, which are in serious stages of negotiation, to follow!" he continued.
While information regarding the terms of the accord that the two nations agreed to remains under embargo, Trump made public in a different post that a meeting concerning the US-UK trade deal will be conducted at the White House today.
This should be a very big and exciting day for the United States of America and the United Kingdom. Press Conference at the Oval Office, 10 AM Thank you!" The commander-in-chief posted on his social media site.
The agreement is the first trade deal that the Trump administration has negotiated with a foreign country since the president shook the world with his belligerent tariffs.
Trump's revelation follows after he posted on social media that the US has entered into a "major trade deal" with a "big and highly respected" nation, without giving any additional details.
President Trump highlighted the potential of the deal to increase U.S. exports and provide new opportunities for American farmers and producers. Prime Minister Starmer underscored the significance of the agreement in saving and generating employment in the UK, especially in the car and steel sectors.
This trade pact comes during a time of heightened global trade tensions after the U.S. imposed sweeping tariffs on many countries. Although the deal is a big bilateral win, the general implications for global trade are yet to be determined.
Economists are assessing the possible effect of the deal, with some highlighting its symbolic value in proving the feasibility of trade deals even during the present international commerce environment. Others are paying attention to the specifics of the deal and how the deal will impact both countries' economic prospects.