Trump revealing ‘full and comprehensive’ trade deal with UK in first major announcement since starting global trade war

President Donald Trump is set to announce cuts to tariffs with the United Kingdom, his first major trade deal since he announced his “liberation day” across-the-board tariffs.

“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,” he wrote.

“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!” He added.

The president announced he had reached a deal with the UK on Truth Social, just hours after teasing that a trade agreement would be made soon.

Trump is expected to speak about the deal from the Oval Office around 10:30 a.m.

The agreement marks the first official deal since Trump imposed sweeping tariffs on nearly every one of the U.S.’s trading partners last month.

Trump’s initial announcement sent global markets into a tailspin, worrying consumers and investors about rising prices and potential inflation.

The president has temporarily paused the tariffs to allow countries to make deals.

The administration has previously said that the UK would need to allow chlorine-washed chicken into the country to avoid tariffs, calling it one of a range of “non-tariff barriers” that limit U.S. trade. The United States also wants to allow hormone-fed beef.

Trump has long complained about countries “ripping off” the United States with large trade deficits. But unlike countries like China, the United States has an almost negligible trade deficit with the UK.

Prime Minister Sir Keir Starmer has stepped up his charm offensive with the president ever since Trump returned to the Oval Office in January. In February, the Prime Minister visited the White House and presented Trump with a formal invitation from King Charles for a state visit.

News of the deal relieved pressure on the U.S. stock market with the Dow, S&P 500 and Nasdaq composite opening higher on Thursday morning.

This is a breaking news story, more follows…