Downing Street has confirmed that Prime Minister Sir Keir Starmer will provide an update later today on the ongoing trade negotiations between the UK and the United States.
A Number 10 spokesperson stated:
“The Prime Minister will always act in Britain’s national interest – for workers, for business, for families.
The United States is an indispensable ally for both our economic and national security.
Talks on a deal between our countries have been continuing at pace, and the Prime Minister will update later today.”
The statement comes ahead of former President Donald Trump’s expected announcement of a “major trade deal” with the UK, scheduled for 3:00 PM BST.
Trump has caused a stir, by posting on his Truth Social site that a major trade deal would be announced today, saying:
“Big news conference tomorrow morning at 10:00am, the Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!”
Sterling climbed as much as 0.5% to $1.336 before settling slightly higher at $1.331. The FTSE 100 also rose 0.8% in premarket trading. Gains in the pound and equities came despite expectations that the Bank of England may cut interest rates later today in response to shifting global trade dynamics.
Asian markets also advanced in response to Trump’s trade announcement, reflecting broader optimism about easing trade tensions.
