The United States and Britain were reportedly set to announce a trade agreement on Thursday that could have implications for President Donald Trump's tariffs policy, but the scope of the deal could be limited.
The New York Times and Politico reported that the agreement would be with the UK, citing multiple people familiar with the plans, while the Wall Street Journal said it would be a "framework" of a deal.
It would be the first such trade agreement since Trump imposed sweeping tariffs on US trading partners on what he called "Liberation Day" on April 2.
The president slapped 10 percent tariffs on imports from around the world, including Britain, but he temporarily froze higher duties on dozens of nations to give space for negotiations.
Trump on Wednesday wrote that a "major trade deal" would be announced with a "big, and highly respected country".
However, media and analysts said it was unclear whether a US deal with Britain had been finalised or if the two countries would announce a framework for an agreement that would be subject to further negotiation.
Trump is set to announce the "deal" at a 10:00 am (1400 GMT) news conference in the Oval Office at the White House, and touted it as the "first of many".
Britain and India began trade talks in January 2022, and despite setbacks, Prime Minister Starmer’s Labour government has made securing a deal a top priority.
Talks continue
In London, Downing Street said British Prime Minister Keir Starmer will give an "update" on trade talks with the United States on Thursday.
"Talks on a deal between our countries have been continuing at pace and the prime minister will update later today," a spokeswoman said.
Starmer, who like Trump won power last year, had pushed for a trade deal before the president unleashed his tariffs blitz on Britain and countries worldwide.
London is keen to get some kind of accord with Washington, ahead of a EU-UK summit on May 19 due to reset ties with the 27-nation bloc.
Britain this week struck a free-trade agreement with India, its biggest such deal since leaving the EU, after negotiations relaunched in February following US tariff threats.
The EU remains Britain's biggest trading partner, while the United States is the UK's single largest country trading partner.
Affinity for Britain
Starmer visited Washington at the end of February in part to discuss tariffs and came away hopeful that a long-awaited accord could be reached.
Trump at the time held out the prospect of a "great" deal, hailing Starmer as a tough negotiator.
Starmer during his visit handed Trump an invitation to meet King Charles III for an unprecedented second state visit that London hopes will boost transatlantic ties.
