President Donald Trump said the U.S. has reached a trade deal with the United Kingdom, the first trade pact since he paused reciprocal tariffs and began negotiating with countries to lower trade barriers.
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," Trump posted on social media May 8 after teasing the announcement the night before without details. "Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement."
Trump has a press conference scheduled at the White House at 10 am EDT on May 8 to discuss the deal.
The president imposed reciprocal tariffs on a slew of countries April 2 but later paused most of them for 90 days, saying those nations' leaders were eager to negotiate trade deals. Since then administration officials repeatedly have said they are close to making deals.
Trump commented about the intense interest in the trade deals during a May 6 meeting with the prime minister of Canada.
"Everyone says: 'When, when, when are you going to sign deals?" Trump said. "We don't have to sign deals. We could sign 25 deals right now . . . if we wanted. We don't have to sign deals. They have to sign deals with us. They want a piece of our market."
The president also expressed frustration with the constant questions. "I wish they'd stop asking how many deals are you signing this week," he said.
Treasury Secretary Scott Bessent told lawmakers during a May 6 committee hearing that deals could be signed soon.
"I would think that perhaps as early as this week we will be announcing trade deals with some of our largest trading partners," Bessent said.
There are 18 countries that Bessent described as "major trading partners." He said negotiations have begun with all of them except China, but talks between U.S. and Chinese officials are now scheduled.
Bessent and U.S. Trade Representative Jamieson Greer are traveling to Switzerland on May 8, where they will meet with China's "lead representative on economic matters."
