Trump's tariffs — the US announces the first trade agreement

On Thursday, May 8, US President Donald Trump announced a trade deal with the United Kingdom. This was the first agreement since the new administration imposed tariffs.

He made the announcement during a press conference in the Oval Office.

The US-UK Agreement

"Both countries have agreed that the economic security is national security, and we’ll be working together as allies to ensure that we have a strong industrial base, appropriate export controls and protections for key technologies and industries like steel," Trump said.

According to him, this is a "very special deal" with one of the "closest and dearest" allies, and the United States is very happy that it worked out this way.

The American president also thanked British Prime Minister Keir Starmer and his team for the great deal and the partnership.

"With this president and this prime minister, we’ve managed to achieve what many people have tried to achieve for years," Starmer said. "It feels completely historic".

Earlier today, The Vatican announces the name of the new Pope.

Also, read our material on record drop in deals in 20 years — Trump is slowing mergers.