US-UK commerce deal reside: Trump to announce tariff cuts and hails ‘full and complete’ settlement with Britain

[ad_1] Watch reside: Trump pronounces historic US-UK deal Jane Dalton 8 Might 2025 14:58

Downing Road pitches Starmer as chief negotiator on US commerce deal - and omits Peter Mandelson Downing Road has pitched Sir Keir Starmer because the chief negotiator on incoming commerce cope with the US, set to be introduced this afternoon, while omitting ambassador to the US Peter Mandelson.

Requested who was main the talks, the prime minister's officers spokesperson advised reporters: "The PM has had various direct calls with the president following the assembly within the White Home.

“As you understand the enterprise secretary has additionally performed talks.

We don’t get into officers clearly, however we’ve been working at tempo to progress talks within the UK’s pursuits and the PM will replace on these talks later at the moment.”

<img src="https://static.independent.co.uk/2025/03/14/14/b47f438fb0ab129a5ed56ff80547903eY29udGVudHNlYXJjaGFwaSwxNzQyMDQ1MDQy-2.79391177.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/03/14/14/b47f438fb0ab129a5ed56ff80547903eY29udGVudHNlYXJjaGFwaSwxNzQyMDQ1MDQy-2.79391177.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Lord Peter Mandelson" class="sc-1mc30lb-0 QHifS"/> Lord Peter Mandelson (PA Wire) Millie Cooke 8 Might 2025 14:45

Wall St set for increased open as stage set for UK-US commerce deal US inventory indexes had been on observe to open increased on Thursday, on information that the US was on the verge of signing a commerce settlement with Britain, whereas chip shares rose on the prospect of fewer export curbs on AI semiconductors.

President Donald Trump stated the US and Britain would announce a commerce deal at 10 a.m. ET to decrease tariffs on some items. If it goes via, the settlement could be the primary since he paused the country-specific tariffs imposed on world economies final month.

The information adopted indications from the Trump administration that negotiations with companions had been underway, however markets await a concrete announcement on that entrance.

Alexander Butler 8 Might 2025 14:30

Decreasing meals requirements stay 'crimson line' for any commerce deal Downing Road insisted that decreasing meals requirements remained a “crimson line” for any US commerce deal.

The Prime Minister’s official spokesman stated: “We've got at all times been clear on our crimson line in the case of meals requirements.

“We aren't going to decrease British meals requirements. That’s one thing set out within the manifesto.”

Alexander Butler 8 Might 2025 14:15

How Keir Starmer succeeded on US commerce deal the place 4 different prime ministers failed Theresa Might, Boris Johnson, Liz Truss and Rishi Sunak all promised - however didn't ship - a post-Brexit commerce cope with the US.

And, lower than a 12 months after coming into Downing Road, Sir Keir Starmer has acquired the job carried out. Or has he?

The prime minister has secured what Donald Trump is looking a “main commerce deal” with the US president saying it might be a “massive and thrilling day” for the US and UK - which he praised as a “extremely revered nation”.

Learn the total story right here:

Alexander Butler 8 Might 2025 13:58

Recap: What are we anticipating later at the moment? Donald Trump introduced a “full and complete” commerce settlement after teasing a “massive and thrilling” day with the UK earlier on Thursday.

He's anticipated to offer element of the deal at round 3pm from the White Home, with British prime minister Keir Starmer set to do the identical at the same time.

Downing Road additionally stated UK-US commerce talks have been “persevering with at tempo” when requested about Mr Trump’s feedback.

Though the main points are unclear, it's anticipated that Trump might take away tariffs that had been slapped on UK items in April.

Alexander Butler 8 Might 2025 13:43

UK-US commerce deal: what do not we all know? Industries who might be watching Mr Trump’s Oval Workplace announcement intently on Thursday embody the movie and TV trade and pharmaceutical trade.

Mr Trump has threatened to levy 100 per cent tariffs on movies made exterior America, which the PM has been warned would devastate movie and TV manufacturing within the UK.

British officers have been locked in talks with US counterparts since Mr Trump outlined the plans, with a view to exempting Britain from the levies.

Officers have additionally been desperately making an attempt to exempt British corporations from a contemporary threatened 25 per cent tariff on prescribed drugs produced overseas.

The measure would have a big impact on UK giants GlaxoSmithKline and AstraZeneca, and negotiators are racing to discover a carve out.

Archie Mitchell 8 Might 2025 13:33

BofE governor says US-UK commerce deal will 'scale back uncertainty' Financial institution of England governor Andrew Bailey welcomed the anticipated announcement of a UK-US commerce deal afterward Thursday afternoon.

He stated: “We haven’t been briefed, however we do have information to recommend that there might be an settlement and we welcome this information. It can assist to cut back uncertainty.

“The UK is, although, a really open financial system and is affected by the tariffs affecting different economies.

“I say that as a result of I hope the UK settlement, if it's the case this afternoon, is the primary of many.

“It's wonderful that the UK is main the best way and I do congratulate all these concerned.”

<img src="https://static.independent.co.uk/2025/05/08/11/39/Bank-of-England-monetary-policy-report-efnah9d1.jpeg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/05/08/11/39/Bank-of-England-monetary-policy-report-efnah9d1.jpeg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Bank of England governor Andrew Bailey has welcomed the trade deal" class="sc-1mc30lb-0 QHifS"/> Financial institution of England governor Andrew Bailey has welcomed the commerce deal (Carlos Jasso/PA Wire) Holly Evans 8 Might 2025 13:05

What might a UK-US commerce deal embody - and what does it imply for tariffs? Learn the total evaluation from political correspondent Archie Mitchell right here:

Holly Evans 8 Might 2025 12:47

FTSE 100 holds onto features as pound strengthens forward of commerce announcement London's FTSE 100 Index held onto features following the speed minimize choice whereas the pound strengthened barely simply hours earlier than a UK-US commerce announcement.

The FTSE 100 stood 30 factors increased at 8589.3, up 0.4 per cent, after charges had been minimize to 4.25 per cent from 4.5 per cent.

Sterling edged 0.3 per cent increased to 1.3331 US {dollars} and was 0.2 per cent up at 1.1770 euros.

At noon, the Financial institution of England minimize UK rates of interest to 4.25 per cent, following a cut up vote amongst policymakers.

The Financial institution’s nine-person Financial Coverage Committee (MPC) voted by a majority of five-four to cut back charges by 0.25 proportion factors, bringing it right down to the bottom stage since Might 2023.

<img src="https://static.independent.co.uk/2025/05/07/16/b2654b7ebf6c7772a9bf21cdfb08d5ffY29udGVudHNlYXJjaGFwaSwxNzQ2NzE2MjY1-2.73810570.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/05/07/16/b2654b7ebf6c7772a9bf21cdfb08d5ffY29udGVudHNlYXJjaGFwaSwxNzQ2NzE2MjY1-2.73810570.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="The Bank of England cut interest rates as the threat of an escalating global trade war looms (Aaron Chown/PA)" class="sc-1mc30lb-0 QHifS"/> The Financial institution of England minimize rates of interest as the specter of an escalating international commerce conflict looms (Aaron Chown/PA) (PA Archive) Holly Evans 8 Might 2025 12:33

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