Trump deal is a significant achievement for Starmer-OxBig News Network

The UK has been desperate for a deal of this sort with the US since President Donald Trump unleashed his wave of global tariffs.

So have other countries. But it seems the UK has got there first – a significant achievement by Prime Minister Sir Keir Starmer and his government.

Those close to the talks have been saying for some time that the shape of a deal was basically there, but that it was never quite clear when and whether the maverick president might sign off on what his negotiating team had thrashed out.

That he has done so this week makes this a highly significant few days for UK trade, coming just two days after the full free trade agreement between the UK and India.

The UK-India agreement is estimated to bring in a £25.5bn boost to bilateral trade and a £4.8bn annual increase in UK GDP, simplifying exports of UK goods to India and cutting taxes on Indian clothing and footwear exports.

There’s a clear political boost for a prime minister who has been under pressure to rethink domestic policies after a disastrous set of local election results for Labour last week.

He has now finalised the deal with India his Conservative predecessors could not reach, and come to some sort of agreement with the US – even if it’s short of the comprehensive free trade agreement the Conservative governments talked about reaching and never managed.

President Trump appeared to allude to the agreement when he posted on social media on Wednesday night: “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!”

The UK side had been expecting an announcement today but was taken by surprise when US media broke the news overnight.

Though Trump has called it a “trade deal”, this is likely to be more limited than that – a more specific deal to reduce tariffs on specific things.

The US president has announced – and scaled back – a swathe of tariffs on countries around the world this year.

The US remains the UK’s top trading partner, purchasing close to £200bn in British exports.

Currently, most goods imported from the UK to the US face a blanket 10% tariff.

The UK – like other countries – has also been hit with 25% tariffs on steel and aluminium exports to the US as well as a 25% tariff on cars and car parts.

From the British side, they specifically want to reduce tariffs on British steel and cars.

From the US side, they want something on pharmaceuticals and technology – which in total account for the majority of goods exports.

Andrew Griffith, the shadow business and trade secretary, says a US-UK deal “would be welcome and another Brexit benefit”.

However, Griffith says restoring growth to the economy “also requires reversing Labour’s attacks on business” and reducing “high energy costs”.

“Conservatives will closely scrutinise any deal which should first be announced to Parliament,” he said.

Meanwhile, Liberal Democrat Treasury spokesperson Daisy Cooper says Parliament “must be given a vote” on the deal so it can be “scrutinised”.

“A good trade deal with the US could bring huge benefits, but Liberal Democrats will oppose any concessions that threaten our NHS, undermine our farmers or give tax cuts to US tech billionaires,” she said.

“If the government is confident the agreement it has negotiated with Trump is in Britain’s national interest, it should not be afraid to bring it before MPs.”

There is a broader point too.

Sir Keir has made a point of forging a warm relationship with Trump – warmer than many expected.

There has also been growing grumblings about what dividend he was receiving for his efforts, on trade, Ukraine and any number of other issues.

Here is his answer.