Trump says 'final details' still to come in U.K. trade agreement

The Associated Press

· Posted: May 08, 2025 11:34 AM EDT | Last Updated: 3 minutes ago

The United States and Great Britain announced plans for a symbolically important trade deal on Thursday, likely lowering the financial burden from President Donald Trump's sweeping tariffs while creating greater access abroad for American goods.

The announcement provided a political victory for U.K. Prime Minister Keir Starmer and a degree of validation for Trump's claims that his turbulent approach on trade may be able to re-balance the global economy on his terms.

Yet the terms of the deal have yet to be completed so that it can be signed, a reminder that a process Trump has promised would be quick could take weeks, as other nations with which the U.S. runs a trade deficit worry that the president's import taxes will drag down economic growth across the world.

"The final details are being written up," Trump told reporters. "In the coming weeks, we'll have it all very conclusive."

The president said that the agreement would lead to more beef and ethanol exports to the U.K., which would also streamline the processing of U.S. goods though customs.

Starmer stresses importance of country relations

Starmer, speaking over the phone to Trump, stressed the importance of the relationship between the two countries as the anniversary of the Second World War victory in Europe was being commemorated.

"To be able to announce this great deal on the same day 80 years forward, almost at the same hour, and as we were 80 years ago with the U.K. and the U.S. standing side by side, I think is incredibly important," Starmer said.

The planned deal was the first outlined since Trump began his stutter-step efforts to rewire the global economy by dramatically increasing import taxes in an attempt to increase domestic manufacturing.

The president quickly rolled out tariffs after returning to the White House, targeting traditional allies such as the U.K. with import taxes on steel, aluminum and cars.

Trump announced near universal tariffs on April 2, then partially retreated a week later and announced that his administration would seek individual agreements with various countries over the next few months.