President Trump is expected to announce on Thursday that the United States will conclude a trade agreement with Great Britain, according to three people who are familiar with the plans.
Mr. Trump teased a new trade agreement in a social media post on Wednesday evening, although he did not specify which nation was part of the deal.
“Large news conference tomorrow morning at 10:00 am, the Oval Office, about an important trade agreement with representatives of a large and highly respected, country. The first of many !!!” He wrote.
A spokesperson for the White House refused to comment over Mr Trump’s post. A spokesperson for the British embassy in Washington did not respond to a request for comment.
The agreement would be the first deal that was announced since Mr Trump imposed rises on dozens of American trading partners. Later he temporarily paved that to enable other nations to reach agreements with the United States.
A deal between the United States and Great Britain could be an important victory for both countries, which have long requested closer economic cooperation.
Details of the agreement were not immediately clear. Both countries have discussed the lowering of British rates on American cars and agricultural products, as well as the removal of British taxes on American technology companies. It was also not clear whether the agreement was actually completed, or whether the countries would announce a framework for an agreement with which they would continue to negotiate in the coming months.
The Trump government has tried to caunish other countries to reach rapid trade agreements with the United States. The president imposed rates for dozens of trading partners on 2 April, but quickly taken back after Paniek followed the bond market. Mr. Trump paused most of those rates for 90 days so that the United States could negotiate trade agreements with other countries.
But he has left a worldwide rate of 10 percent, including on Great Britain. In contrast to other countries, Great -Britain was not subject to higher ‘reciprocal’ rates, because it buys more from the United States than it sells. Administration officials have said that she is not considering removing the rate of 10 percent as part of a trade agreement.
Great -Britain is also subject to a rate of 25 percent that Mr Trump has placed on foreign steel, aluminum and cars, taxes that British officials have pushed their American counterparts to lift.
Mr. Trump’s interest to conclude a trade agreement with Great Britain dates from his first term, when his advisers negotiated with the country, but did not complete an agreement. Since Brexit, British officials have also viewed a trade agreement with the United States as a way to compensate for weaker relations with Europe. In the Biden government, British officials continued to insist on a deal with the United States, but made little progress.
For the British Prime Minister, Keir Starmer, the Handelsdeal would be justified for his diligent cultivation by Mr. Trump. During his visit to the Oval Office in February, Mr. Starter came with an invitation from King Charles III For the president to pay a rare second state visit to Great Britain.
The Trump government seems to be approaching Deals India and Israel and continues to negotiate with South Korea, Japan, Vietnam and other countries. Yet Mr. Trump again showed his unpredictable approach to economic policy on Tuesday when he The prospect of trade agreements triggeredsay that other countries needed such agreements more than the United States.
“Everyone says:” When, when, when are you going to sign deals? “” Said Mr Trump, at one point that moved to Howard Lutnick, his commercial secretary. “We don’t have to sign deals. We can now sign 25 deals, Howard, if we wanted to. We don’t have to sign deals. They have to sign deals with us.”
Trade experts have said that Mr Trump may intend to announce much more limited deals than traditional trade agreements, which cover the most trade between countries and require the approval of the congress. Historically, free trade agreements have cost the United States for more than a year to negotiate.
In his first term, Mr Trump again negotiated various American trade agreements, including a free trade agreement with South Korea and Nafta. But he also signed a series of more limited “mini-deals” with countries in which they lowered or agreed to talk the rates for a few types of goods to talk about a few sectors. Mr Trump would also intend to announce a framework agreement that would state the subjects that the countries have agreed to negotiate, instead of a definitive deal.
British officials have also negotiated with the European Union and on Tuesday agreed for a trade agreement with India. The India deal would lower the rates between countries and gain more access for British companies to the insurance and bank sectors of India, including changes. The announcement followed for almost three years of negotiations.
Mark Landler contributed reporting.
- Advertisement -
