Donald Trump announced a trade deal with the UK live online: Agreement details and updates

That wraps up this live blog.

Both governments are pleased with the agreement, but details are still being discussed. One of the main areas of question came from members of the British press over meat imports, since the U.K. has higher standards that would limit the amount of beef and chicken able to enter the market. Though tariffs on these products have been brought down by the U.K., that doesn't mean that they will have an easy time landing on British supermarket shelves. 

Trump adminstration "feeling good" about the U.K.-US trade deal

Members of the Trump adminstration are "feeling really good about the deal." Commerce Secretary Howard Lutnick pointed out that tariffs on imports from the U.K. were not reduced from 10 percent, but the administration still managed to expand the market for US goods. 

Our first look at the U.K.-US Trade agreement reached by the Trump White House

President Trump described the U.K. market as "a little closed," but has said that it is changing, with the country opening up its market to beef and other agricultural products from the US. However, this might raise questions in the U.K., with much of the public having voiced concern about the quality of meat and food that would be made available to British consumers. U.K. regulation will not allow beef injected with hormones to enter the country.  

Though President Trump did not provide many details, he said the U.K. had lowered some "non-tariff barriers that [had] unfairly discriminated against American products." 

We are getting underway... with the U.K. Prime Minister joining on the phone. The president is talking about the history of collaboration with the United Kingdom, especially as VE day is celebrated. 

Wall Street in the green as the White House announces a trade deal with the U.K.

Since sweeping duties were announced in early April, the White House is set to host an event announcing the details of the first trade agreement between the US and a partner country. 

Investors on Wall Street have responded well to the news, with the Dow Jones, NASDAQ, and S&P 500 all up compared to yesterday's close. We will bring you the latest from the markets after the event gets underway. 

The U.K. was hit with 10 percent tariffs on most imported goods, with others like steel being taxed at 25 percent. Though touted by the US president as "comprehensive," the deal between the countries is likely to be a first step in negotiations. 

What are the main goods imported to the US from the UK?

As we prepare for the announcement of what President Trump called a "comprehensive" trade agreement with the U.K., we look at the main imports to the US from their 11th-largest trade partner. 

According to the British government, in 2023, the main goods exported to the US were classified as machinery and transport equipment, which represented 45.1 percent of all goods exported to the US market. Within this bucket of goods fall cars, which represented 18.4 percent of all cars exported by the UK. 

"Chemicals were the second largest commodity exported," reported the U.K. government, followed by other manufactured goods, fuel, beverages and food, among other products.

The event is to begin soon from the Oval Office

It is just after 10:00 am in Washington DC, and the announcement of the deal reached with the U.K. will be unveiled. You can tune in for the live event here. 

Trump takes to Truth Social to announce movement on a trade agreement with the United Kingdom

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. Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!

Economy

Industry insider bucks Trump’s argument that tariffs will fuel job growth in manufacturing: Here’s why

As Donald Trump has begun to impose his trade policy, the main feature of which is tariffs, some industry insiders are rebuking his argument that these import duties will greatly increase the number of manufacturing jobs in the US. These warnings are coming from the US steel industry, which is front and center today as the U.K. and US unveil a new framework for trade between the two countries. Read more. 

Likley to be a 'mini deal' rather than a major trade agreement

Most experts, including Justin Wolfers, a professor of economics at the University of Michigan, believe that what we will see today is likely to be a "framework" for an agreement, not the full deal. 

According to the economist, the U.K. represents around 3 percent of US trade, and the country and longtime ally is the US' 11th largest trading partner. 

Hello, thanks for joining us on this Thursday morning in Washington DC

Hello, thanks for joining us. We will be bringing you the latest on a trade negotiations between the US and the U.K. 

Early on Thursday morning, Presidnet Donald Trump announced that at 10:00 AM, he would be unveiling a trade agreement reached with the United Kingdom. 

The confirmation that an agreement had been reached comes after reporting from The Guardian that the U.K. had been bumped to the second tier of countries the Trump adminstration was negotiating with. 

Prime Minister Keir Starmer has yet to make any public comments about the agreement but confirmed that an agreement with the US had been reached and that he would be speaking about the details later today. The latest reports from the BBC show that the deal is "not a full comprehensive trade deal," but instead a more short-term proposal to reduce tariffs on goods from the U.K. imported in the US. 

Headlines | Thursday, May 8, 2025

- Early this morning, President Trump announced that he would be unveiling the details of a new trade agreement with the United Kingdom

- Prime Minister Keir Starmer did not retaliate against tariffs imposed by Washington, which may have paid off with quicker negotiations 

- Major sticking points between the two countries relate to the trade of British steel, which is currently being taxed at 25 percent. 

- Industry insider bucks Trump’s argument that tariffs will fuel job growth in manufacturing: Here’s why

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