US President Donald Trump has said that he is going to hold “a big news conference at 10:00 AM tomorrow” at the Oval Office. Sharing the news on Truth Social, he said the news involves a “major trade deal: with representatives of ” a big, highly respected country.” Calling it the first of many, Trump an hour ago also shared that his administration has made significant progress on the “One, Big, Beautiful Bill.”
Citing sources, a CNN report has claimed that the deal will be with the United Kingdom. While Trump did not name the country involved, his administration has indicated that talks are ongoing with India, the United Kingdom, South Korea, and Japan.
Trump’s top trade adviser, Peter Navarro, told CNN’s Kaitlan Collins on Tuesday that he believes the UK could be the first to finalise a trade deal with the United States.
Navarro said it’s unclear whether the UK or India will be the first to finalise a deal, noting that some recent complications in talks with India could cause delays, the CNN report said. However, he assured that trade agreements are on the way and will strongly benefit the American public.
Since Trump introduced a 10% tariff on most countries on April 2, his top officials have been busy holding meetings with various trading partners. Although the higher tariffs were put on hold for 90 days, discussions have continued. Trump has also added 25% tariffs on cars, steel, and aluminum, and placed the same rate on goods from Canada and Mexico. Tariffs on Chinese products were set even higher, at 145%.
Trump had said that he and his team would spend the next two weeks looking at possible trade deals to decide which ones to move forward with.