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Trump set to unveil ‘full’ US-UK trade deal, first since ‘Liberation Day’ tariffs

May 8, 2025 | Tariff Updates

President Trump is set to announce a comprehensive trade deal with the UK, marking the first such agreement since his administration imposed and then paused broad “reciprocal” tariffs in April.

Trump emphasized the longstanding alliance with the UK and hinted at more deals in progress.

Meanwhile, tensions with the EU and China remain high, with the EU preparing retaliatory tariffs and Trump refusing to ease steep tariffs on Chinese imports ahead of upcoming trade talks in Switzerland.

The Federal Reserve has noted that while economic sentiment is weakening, the full impact of the tariffs has yet to materialize.

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