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Donald Trump has hailed the trade deal with the UK as “full and comprehensive” as he promised it would cement the relationship between the two countries for “years to come”.

The US president said it was a “great honour” to strike an agreement with the UK and said deals with other countries would soon follow.

Posting on the Truth Social website, Mr Trump said: “The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come.

“Because of our long time history and allegiance together, it is a great honour to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!”

Reports that the two countries had struck an agreement first emerged in the New York Times – and Sky News has since been told that terms had now been agreed.

Deputy political editor Sam Coates says he understands a “heads of terms” agreement, essentially a preliminary arrangement, has been agreed, which is a “substantive” step towards a full deal.

No physical UK-US trade document is expected to be signed today as a result.

Follow live: UK-US trade deal

While the details are yet to emerge, Sky News business correspondent Paul Kelso understands the UK has agreed to give some concessions on food and agriculture imports from the United States to secure an easing of export tariffs for the car industry.

Kelso said the “heads of terms” deal appears to be coming down to what the UK can secure by way of concessions on tariffs.

Shortly after the New York Times report emerged, the value of the British pound rose by 0.4% against the US dollar.

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What could US-UK trade deal mean for industry?

‘Renewal for our country’

Mr Trump said “this should be a very big and exciting day” for the US and UK, in a post on Truth Social on Thursday, adding there would be an announcement in the Oval Office at 10am local time (3pm UK time).

Meanwhile, Sir Keir Starmer vowed to “deliver security and renewal for our country” ahead of the expected announcement.

Speaking to the London defence conference, Sir Keir said: “Talks with the US have been ongoing and you’ll hear more from me about that later today.

“But make no mistake, I will always act in our national interest, for workers, businesses and families, to deliver security and renewal for our country.”

Senior Trump officials have been engaging in a flurry of meetings with trading partners since the US president announced his “liberation day” tariffs on both the US’ geopolitical rivals and allies on 2 April.

Mr Trump imposed a 10% tariff on most countries including the UK during the announcement, along with higher “reciprocal” tariff rates for many trading partners.

However, those reciprocal tariffs were later suspended for 90 days.

Britain was not among the countries hit with the higher reciprocal tariffs because it imports more from the US than it exports there.

However, the UK was still impacted by a 25% tariff on all cars and all steel and aluminium imports to the US.

A UK official said on Tuesday that the two countries had made good progress on a trade deal that would likely include lower tariff quotas on steel and cars.

Read more:
UK chancellor outlines red lines for US trade deal
Will MPs get a vote on a trade deal with Donald Trump?

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Trump Tariffs: How the 10 days unfolded

Mr Trump said the same day that he and top administration officials would review potential trade deals with other countries over the next two weeks to decide which ones to accept.

Last week, he said that he has “potential” trade deals with India, South Korea and Japan.

Asked on Sky News’ Breakfast programme about the UK-EU summit on 19 May and how Sir Keir would balance relationships with the US and EU, Coates said: “I think it is politically helpful for Keir Starmer to have got the heads of terms, the kind of main points of a US-UK trade deal, nailed down before we see what we have negotiated with the EU — or, more importantly, Donald Trump sees what we have negotiated with the EU.”

Coates said there was “always a danger” that if it happened the other way around, Mr Trump would “take umbrage” at negotiations with the EU and “downgrade, alter or put us further back in the queue” when it came to a UK-US trade deal.

US and Chinese officials to discuss trade war

It comes as the US and China have been engaged in an escalating trade war since Mr Trump took office in January.

The Trump administration has raised tariffs on Chinese goods to 145% while Beijing has responded with levies of 125% in recent weeks.

US Treasury secretary Scott Bessent and US trade representative Jamieson Greer are set to meet their Chinese counterparts in Switzerland this week to discuss the trade war.

China has made the de-escalation of the tariffs a requirement for trade negotiations, which the meetings are supposed to help establish.

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BitGo secures VARA license amid regulatory crackdown

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BitGo secures VARA license amid regulatory crackdown

BitGo secures VARA license amid regulatory crackdown

Dubai’s regulator announced it had issued financial penalties against 19 companies related to digital asset activities amid approval for BitGo’s MENA entity.

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Tetchy Badenoch criticised me for asking hard questions – but leadership challenge talk won’t go away

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Tetchy Badenoch criticised me for asking hard questions - but leadership challenge talk won't go away

In the 11 months since Kemi Badenoch has become party leader, the Conservative Party has dropped from 26% to 17% in the polls.

It has lost nearly 700 council seats, 16 councils, while 18 senior Tories have defected, including one of the party’s great thinkers, Danny Kruger.

Politics Live: Tory councillors defect to Reform

Her personal poll rating, minus 47, is worse than the lowest ebb of Iain Duncan Smith’s fated leadership and worse than when Boris Johnson resigned.

To rub salt into the wounds, a Sky News/YouGov poll this week found that the majority of Tory members think Robert Jenrick should be the leader, while half don’t think she should lead them into the next general election.

Being leader of the Opposition is often described as the hardest job in politics, but for Badenoch, with Reform stealing the march as the party of the right, it looks pretty much impossible.

For someone who needs to try to win people over, Badenoch has a curious style. She likes to be known as a leader who isn’t afraid of a fight and, at times, she approached our interview at the Conservative Party conference as if she was positively looking for one.

More on Kemi Badenoch

A few times in our interview when I asked her a question she didn’t like, or didn’t want to answer (it is my job to ask all politicians hard questions), she seemed tetchy.

And when I deigned to ask her whether she admired Nigel Farage, she criticised me for asking the question. She asked why I was not asking her if I admire Sir Keir Starmer or Sir Ed Davey.

Her approach surprised me, as I had asked the prime minister exactly the same question a week before. He’d answered it directly, without arguing over why I had asked it: “I think he is a formidable politician,” said Sir Keir.

Badenoch told me she didn’t understand the question, and then told me she wasn’t interested in talking about him. It made for an awkward, ill-tempered exchange.

The facts remain that Farage is topping the polls, helped by Labour’s collapsing support and the Conservatives’ deep unpopularity.

And in the run-up to our interview, Reform drip-fed the news that 20 Tory councillors were defecting to Farage’s party.

There is open talk in Badenoch’s party about whether the Tories will need to try to come to some sort of agreement with Reform at the next election to try to see off Labour and ‘progressive parties’.

Farage says absolutely not, as does Badenoch – but many in her party do not think she has that luxury.

Andrew Rosindell, MP for Romford, told GB News he’ll lose his seat unless the two sides “work together” and said the right must unite to defeat the left. Arch-rival Robert Jenrick pointedly refuses to rule it out, saying only it’s “not the priority”. Meanwhile, party members support an electoral pact by two to one, according to our Sky News poll.

On the matter of whether these MPs, and party members, have a point, Badenoch bristled: “It is important that people know what we stand for. Robert Jenrick is not the leader of the Conservative Party, neither is Andrew Rossindell. I am the leader of the party and we are not having a coalition or a pact with Reform.”

Read More:
Jaunty Jenrick: a leader’s speech in all but name
Kemi Badenoch praises Thatcher but faces fight with grandees

When I ask colleagues if they think Badenoch is too aloof, too argumentative, too abrasive to lead this rebuild, the popular refrain for her supporters is that she is “a work in progress” and that it would be madness to change the leader again.

The question is, will she be given the time to develop? The plot to oust her is active and much of the chatter around this conference is whether she might be challenged before or after the May local elections.

There are some colleagues who believe it is better to give her more time to turn things around and, if May is truly dreadful and the party goes further backwards, remove her then.

Ahead of conference, when asked by Tim Shipman of the Spectator whether she would resign if the Conservatives go backwards in May, she said rather cryptically “ask me after the locals”.

When I asked Badenoch why she said that she replied, “let’s see what the election result is about”.

When I explained that it sounded rather like she might throw in the towel after next May and so was seeking clarification, she told me that I was asking irrelevant questions.

“Your viewers want to know how their lives are going to be better. Not be inside the Westminster bubble politics of who’s up, who’s down… It’s part of the reason why the country is in this mess. Perhaps if people had scrutinised Labour’s policies instead of looking at just poll ratings, they would be running the country better.”

But Tories are looking at poll ratings and there is a view from some in the party that if the Tories wait until another drubbing in the May local, Scottish and Welsh elections, there might not be much of a party apparatus left to rebuild from.

More than half of Tory members want pact with Reform
Image:
More than half of Tory members want pact with Reform

In short, there is not a settled view on when a challenge might come, but with the party in the position it is in, talk of a challenge will not go away.

Badenoch wants to make the case that her “authentic conservatism” is worth sticking with and that the policies the Conservatives are announcing will give them a pathway back.

On borders, the Tories are trying to neutralise Reform with a very similar offer. On the economy and welfare cuts, they hope they can beat Labour and Reform.

But really, the question about this party and this leader is about relevance. The prime minister didn’t even bother to name check Badenoch in his conference speech, while Davey trained his guns on Farage rather than his traditional Tory rival.

Badenoch may not like being asked about Reform, might – in her words – not be interested in Reform, but her former voters, and the country, are. The enormous challenge for her in the coming months is to see if she can get them to look at her.

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How XRP’s legal victory turned it into Wall Street’s favorite crypto

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How XRP’s legal victory turned it into Wall Street’s favorite crypto

How XRP’s legal victory turned it into Wall Street’s favorite crypto

XRP’s legal victory reshaped investor confidence, establishing it as a preferred choice for investors seeking regulated, liquid crypto assets.

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