Trump teases ‘major trade deal’ with 'highly respected country'; know who's the trading partner

US President Donald Trump is expected to announce a trade agreement with the United Kingdom on Thursday, according to US media reports.

It would be the first such deal by the United States since imposing steep tariffs on dozens of trading partners last month.

Trump teased the announcement in a social media post late Wednesday, without naming the country involved.

“Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” he wrote.

The New York Times and Politico reported that the US will agree to a deal with Britain.

Details of the US-UK agreement remain unclear, including whether it has been fully finalised.

Discussions have centred on reducing British tariffs on US cars and agricultural products and eliminating British taxes on American technology companies, reported the NYT, citing people familiar with the talks.

The announcement follows Trump’s April 2 decision to impose punitive tariffs on multiple trading partners, which sparked volatility in bond markets. He later paused most tariffs for 90 days to allow negotiations with other nations, including the UK, India, Israel, South Korea, Japan, and Vietnam.

The Trump administration is reportedly nearing trade deals with India and Israel.

Last month, Trump hinted at progress with New Delhi, telling reporters, “I think we will have a deal with India.”

He said that Prime Minister Narendra Modi, who visited Washington in February, was eager to finalise an agreement.

"The prime minister (Narendra Modi), as you know, was here three weeks ago, and they want to make a deal," he added.

US Treasury Secretary Scott Bessent has also suggested India could be among the first to secure a bilateral trade deal.

The Ministry of Commerce and Industry reported “positive progress” in talks held in Washington from April 23 to 25, with an aim to conclude the first phase of a comprehensive Bilateral Trade Agreement by fall 2025.

The US remains India’s largest trading partner, with a trade surplus of $41.18 billion in 2024-25.