US President Trump teases 'major trade deal' announcement with 'big, highly respected country': Reports
Written By Jatin Verma
Published: May 08, 2025, 04:32 IST | Updated: May 08, 2025, 04:32 IST
Story highlights
Business & Economy, World: According to reports, The UK and the US have been in discussions about an economic agreement that would reduce the impact of some tariffs
US President Donald Trump made an announcement on Truth Social that he plans to hold a press conference with news on a 'major trade deal' with a "big, highly respected country".
"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 on Truth Social.
Several media publication in the US have reported the deal would be with the United Kingdom. According to reports, The UK and US have been in discussions about an economic agreement that would reduce the impact of some tariffs.
Trump's tariff proposal was intended to force trade partners to the bargaining table, with the aim of winning more favorable terms for the US and reducing the trade deficit. He imposed a tough deadline: Tariffs kicked in on April 7, but were paused two days later for a 90-day negotiating period that is to lapse on July 8. If no agreements are reached, up to 50 per cent duties could reinstate themselves on scores of nations.
"I’m telling you, these countries are calling us up, kissing my a**," Trump said last month ahead of the tariff implementation. "They are dying to make a deal. ‘Please, please, sir, make a deal. I’ll do anything. I’ll do anything, sir!’"
The White House did not immediately respond to comment on the country involved or scope of any potential deal.
In his post, Trump didn't mention the country, but his administration indicated that it is in active discussions with India, the United Kingdom, South Korea and Japan. Trump's chief trade adviser, Peter Navarro, said in an interview with CNN that he thinks that the UK might be the first nation to sign a trade agreement with the United States.
"I don't know if it's going to be UK first or India first, it's — we've got a little twist in the in this India story, so that might slow things down there, but I can assure the American people that there will be deals, and they will be very good deals for the American people," Navarro was quoted saying to CNN.