Washington, Feb 27 (Reuters) - During a joint news conference with UK Prime Minister Keir Starmer on Thursday, the U.S. President stated that the United States and Britain are currently in talks to reach a bilateral trade agreement aimed at warding off U.S. tariffs.
"We're going to have a great trade agreement," expressed Trump. "We're going to end up with a very good trade agreement for both countries, and we're working on that as we speak."
Starmer mentioned that the two nations have initiated work on a new economic deal centered on advanced technology to reinforce their already robust trade partnership.
Trump indicated that the framework of a trade agreement between the two allies could be finalized "very shortly," with key roles in the negotiations undertaken by Treasury Secretary Scott Bessent, Vice President JD Vance, Commerce Secretary Howard Lutnick, and national security adviser Mike Waltz.
He expressed optimism about swiftly reaching a trade agreement, stating, "I expected to get a trade deal done rather quickly, as quickly as it can be done."
Regarding the potential elimination of reciprocal tariffs, Trump acknowledged Starmer's efforts by stating, "He tried," praising Starmer's negotiation skills.
"He was working really hard at lunch," Trump commented. "I think we could very well end up with a real trade deal where the tariffs wouldn't be necessary. We'll see."
British Finance Minister Rachel Reeves, on Wednesday, expressed confidence in maintaining U.S.-UK trade and investments despite Trump's tariff threats, emphasizing the historical increase in trade and investment under Trump's previous administration.
Imports and exports of goods and services between Britain and the U.S. amounted to $317 billion in 2023, ranking Britain as the U.S.'s fifth-largest trading partner after Canada, Mexico, China, and Germany.
Even though the United States is Britain's primary national trading partner, the UK conducts a higher volume of trade with the 27 EU member countries as a collective entity. In an earlier statement, Trump expressed a willingness to find a resolution with Britain regarding tariff threats, while also indicating a stronger inclination toward imposing tariffs on EU nations.