United States President Donald Trump is poised to unveil a trade agreement with the UK, marking his first deal following extensive global tariffs. Investors are hopeful this announcement will help mitigate the uncertainty surrounding the trade landscape. The proposed deal anticipates significant reductions in US tariffs on steel and cars, while the UK may lower its digital services tax on American technology companies. This initiative plays into Trump's broader strategy of leveraging tariffs for domestic economic improvements and tax reductions.
Investors have been waiting for Trump to ease his global trade war amid fears that prolonged uncertainty over tariffs could inflict serious damage to the world's biggest economies.
An agreement with the UK would mark Trump's first trade deal since he imposed tariffs on dozens of countries on April 2, a move he called liberation day.
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