President Donald Trump is expected to announce a “major trade” deal between the United States and Britain on Thursday, according to a new report.
Writing on Truth Social on Wednesday, President Trump said the deal would be announced during a news conference from the Oval Office.
“Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” Trump wrote, liberally using all caps.
He did not offer more details but said it would be the “first of many.”
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The post comes after The New York Times, citing three people familiar with the plans, reported that Trump was expected to announce a trade deal with the U.K.
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A deal would be the second for Britain in a week after it clinched a free trade pact with India.
A UK official said on Tuesday that Britain and the U.S. had made good progress on a trade deal that would likely include lower tariff quotas on steel and autos.
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The news of a U.S.-U.K. trade deal comes as U.S. and Chinese officials prepare to hold talks in Switzerland on Saturday, which could mark the first step in resolving a potentially damaging trade war between the world’s top two economies.
Trump’s trade war has shaken up financial markets and raised fears of a recession, with central bankers and business executives wrestling with often chaotic policymaking that is rippling through world supply chains and a whole host of industries.
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The International Monetary Fund last month slashed its growth forecasts for the United States, China and most countries, citing the impact of U.S. tariffs and warning that rising trade tensions would further slow growth.
Reuters contributed to this report.
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