Starmer said he will meet Trump on Monday and will discuss the U.S.-U.K. trade deal with the President.
British Prime Minister Keir Starmer on Monday announced that the trade deal between the U.S. and the U.K. will be finalized “very soon.”
Speaking on the sidelines of the Group of Seven (G7) meet in Canada, PM Starmer made the announcement ahead of his meeting with U.S. President Donald Trump, according to a Reuters report.
Starmer said he will meet with Trump on Monday and discuss the U.S.-U.K. trade deal with the President.
“I'm very pleased that we made that trade deal, and we're in the final stages now of implementation, and I expect that to be completed very soon,” Starmer told reporters.
The U.K. was the first country to strike a deal with the U.S. after President Trump announced his ‘Liberation Day’ tariffs in April.
Despite being the first to reach a deal with the U.S., implementation had been stalled as the two countries tried to finalize the finer details.
The U.S. agreed to lower the 25% tariffs on steel and aluminum imports to zero for imports from the U.K., subject to a quota.
The Trump administration subsequently hiked steel and aluminum tariffs to 50% for other countries earlier this month.
Disagreements on other aspects, like the digital services tax and standards for agricultural products, were among the sticking points between the two countries.
Trump’s trade and foreign relations policies are expected to dominate talks at the G7 summit. The G7 consists of the U.S., U.K., Japan, Germany, France, Italy, and Canada. Representatives and leaders from the EU, Australia, India, Brazil, Mexico, and other countries will also take part in this year’s summit.
While the Trump administration is still finalizing deals with other countries, it has yet to announce another one. With the President’s 90-day pause set to expire in a little over three weeks, on July 9, it remains to be seen whether another deal will be announced.
At the time, Trump advisor Peter Navarro said he expected the administration to strike 90 deals over the 90-day period.
In addition to the ongoing discussions with the European Union, the Trump administration struck a preliminary deal with China last week.
President Trump’s team said earlier this month that it is close to inking a couple of trade deals; however, no progress has been made on that front yet.
Expectations that the Israel-Iran conflict will be contained spurred U.S. equity markets on Monday.
The SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 1.02% at the time of writing.
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