By Natalie Andrews, Brian Schwartz and Alex Leary
WASHINGTON -- President Trump is expected to announce a framework of a trade deal with the U.K. on Thursday, the first in what the White House hopes is a series of trade agreements since it imposed tariffs against allies and adversaries, according to people familiar with the negotiations.
The announcement, which Trump teased late Wednesday on Truth Social as being with a "big, and highly respected country," is expected to be a framework of an agreement with tariff adjustments.
"This announcement is likely just an agreement to start the negotiations, identifying a framework of issues to be discussed in the coming months," said international trade attorney Tim Brightbill. "We suspect that tariff rates, non-tariff barriers, and digital trade are all on the list -- and there are difficult issues to address on all of these."
The White House and the British Embassy in Washington didn't respond to a request for comment.
The trade deal with the U.K. would be the first for Trump in his second term. Administration officials have said they are also in close talks with India and Japan, and the president is readying to go to the Middle East next week.
Last month, the U.S. imposed a new 10% tariff on most goods imported from the U.K, as part of the baseline tariff it imposed on all nations, and Britain is also subject to the 25% tariffs Trump imposed on all steel and aluminum imports on March 12.
The U.K. is hoping to get a reduction on the 25% tariffs the U.S. is levying on steel and automobiles, however the baseline 10% tariff will likely remain in place. In return, Britain is offering concessions on a digital tax it levies on big U.S. tech companies.
The U.K. and India announced Tuesday the completion of a trade agreement that had been stuck for several years.
Trump has paused sweeping tariffs on dozens of countries to allow for negotiations but has kept the 10% baseline tariff in place, as well as severe levies on Chinese imports, which have already led to some consumer-price increases on a variety of goods, including baby strollers, cribs and toys. The president has played down price concerns, saying last week that "maybe the children will have two dolls instead of 30." At the same time, Trump's unpredictable trade announcements have made investors nervous and pushed major stock indexes lower.
Trump is seeking an array of benefits for the U.S., including agreements that trading partners purchase more U.S. goods and curb non-tariff barriers. Trump argues that tariffs will encourage more manufacturing in the U.S.
Treasury Secretary Scott Bessent has said that his priorities include striking trade deals with countries in Asia. On the sidelines of a Milken Institute Global Conference in Los Angeles earlier this week, Bessent told a crowd that he has been particularly impressed with Indonesia's trade framework, without providing further details, a person in attendance said.
Vice President JD Vance on Wednesday said the U.S. is engaging with "most nations," both friends and adversaries. "We just want a little bit more fairness, or to use the president's word, reciprocity," he said at a conference in Washington, calling trade discussions the "early innings."
Bessent and U.S. Trade Representative Jamieson Greer are traveling to Switzerland on Thursday to meet Beijing's lead economic representative, the first direct talks over trade between senior officials on both sides.
--Max Colchester contributed to this article.
Write to Natalie Andrews at natalie.andrews@wsj.com, Brian Schwartz at brian.schwartz@wsj.com and Alex Leary at alex.leary@wsj.com
(END) Dow Jones Newswires
May 08, 2025 01:46 ET (05:46 GMT)
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