President Trump announced a "full and comprehensive" trade agreement between the United States and the United Kingdom. This is touted as the first of numerous deals to be finalized with countries facing tariffs.
Specific details of the agreement remain undisclosed, with a formal White House announcement planned. The news caused a surge in Dow futures. The announcement follows earlier hints by President Trump on Truth Social.
The deal is part of a wider trade strategy initiated by President Trump, which previously involved the implementation of reciprocal tariffs on several countries, followed by a 90-day pause for negotiations. Statements by President Trump and Secretary Bessent suggest numerous deals are in advanced stages of negotiation, with a large portion expected to conclude by year's end.
Negotiations are underway with 18 countries identified as major trading partners, and discussions with China are scheduled to begin next month.