Online Reporter
President Donald Trump was expected to announce a trade agreement with the United Kingdom at a news conference yesterday morning in Washington, according to people familiar with the matter.
Trump teased the announcement in a social media post on Wednesday night, saying he would hold an Oval Office news conference to discuss “a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY.”
Details of the agreement weren’t immediately clear. The people familiar with the plans described them on the condition of anonymity.
Trump has faced political pressure to find an off-ramp from his plan to raise US tariffs to their highest level in a century, as polls show Americans souring on his economic stewardship.
Trump signalled the deal he’ll discuss would be the first of many as he looks to topple barriers to US exports and calm market turmoil driven by the sweeping scope of his tariffs.
Yet any agreement would come with significant caveats.
Full-scale trade pacts typically take years to negotiate, and talks with several nations have centred around, at best, a top-line deal on commitments and intentions that may leave many details traditionally included in comprehensive trade agreements to be negotiated later.
The White House did not immediately respond to a request for comment on the country involved or scope of any potential deal. — Bloomberg.
