WASHINGTON (TNND) — President Donald Trump said Thursday that the United States will enter into a trade deal with the United Kingdom that is "full," and "comprehensive," and will "cement the relationship for many years to come."

The announcement is expected at 10 a.m. EDT in the Oval Office.

"Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement," Trump wrote on Truth Social. "Many other deals, which are in serious stages of negotiation, to follow!"

It is the first bilateral trade deal since Trump began slapping tariffs on U.S. trading partners in February.

U.K. Prime Minister Keir Starmer's office said he would give an update on Thursday.

“As you know, talks with the U.S. have been ongoing and you’ll hear more from me about that later today.” Starmer said at a defense conference in London.

Trump's long-promised “reciprocal” tariffs went into effect in April and placed a 10% tax on imports from Britain and a 25% tariff on autos, steel and aluminum.

The U.S. is the largest destination for British cars, accounting for more than a quarter of U.K. auto exports in 2024, according to the Office for National Statistics.

Britain has also sought tariff exemptions for pharmaceuticals, while the U.S. wants greater access to the British market for agriculture products. Starmer’s government has said it won’t lower U.K. food standards to allow in chlorine-rinsed American chicken or hormone-treated beef.

The U.S. ran a $11.9 billion trade surplus in goods with the U.K. last year, according to the Census Bureau. The $68 billion in goods that the U.S. imported from the U.K. last year accounted for just 2% of all goods imported into the country.

The U.S. is much more important to the U.K. economy. It was Britain's biggest trading partner last year, according to government statistics, though the bulk of Britain’s exports to the U.S. are services rather than goods.

A trade deal with the U.S. comes after the U.K. and India announced a trade after three years of negotiation.

"This agreement will slash tariffs on key products like whisky, cosmetics and medical devices and unlock opportunities for businesses across regions and nations of UK," according to the Department for Business and Trade.

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Editor's note: The Associated Press contributed to this article.