UK Prime Minister Keir Starmer and US President Donald Trump 

Agencies WASHINGTON

US President Donald Trump said on Thursday that the United States had reached a breakthrough trade deal with Britain. "It's a very big deal right now," Trump told reporters at the White House, adding there would be adjustments made to the pact going forward.

 The deal will bring the UK into the US security blanket, Trump said. He outlined benefits for both countries and said the administration has more trade discussions in coming days. He claimed investments in the US from this and future trade deals could amount to $10 trillion.

Thursday's deal "opens up a tremendous market for us," Trump said of the agreement, which he said will be particularly good for US agriculture and manufacturing. Trump said the administration has more deals in the works without providing details. "We can all play games, but it doesn't matter," because deals are what matter, Trump said, referring to coming talks with China. He said the administration is dealing now with the European Union over trade issues. He attributed the success of the UK deal in part to his decision to "blow up the whole system," saying doing so made reaching what he called a fair agreement easier.

Trump thanked UK Prime Minister Keir Starmer, who spoke after Trump's introductory remarks. Starmer called the deal "a real tribute to the history" the two nations have of working together and noted that 80 years ago today Winston Churchill announced Allied victory in Europe.

The deal today "is truly historic," Starmer said. Commerce Secretary Howard Lutnick said the deal will open up "new market access" in areas such as ethanol and beef for American exporters, bringing in billions in revenue. He said the agreement will be good for steel producers in both countries.

The UK wants "to do it with America" to save thousands of jobs in steel and aluminum, Lutnick said. "You can work with us," Lutnick said. The deal is the first of its kind since the administration unleashed tariffs five weeks ago. UK officials cautioned earlier the accord won’t be a full trade agreement and some details remain to be finalized.

Trump's Truth Social post overnight announcing the development added to the recent upturn in stocks, fueled by hopes that the draconian trade regime Trump spelled out in April won't come to pass. The S&P 500 has risen 10 of the past 12 days and was up 0.9% approaching midday Thursday. The UK faces a 10% baseline tariff like many countries, as well as 25% levies on steel and cars. The details, even in a framework deal, could give clues about the White House's approach to negotiations — in particular, whether baseline duties stay in place.

Meanwhile, Treasury Secretary Scott Bessent is travelling to meet China’s lead economic representative, potentially paving the way for broader trade talks with the world’s second-largest economy. Administration officials have said they are also in close talks with India and Japan, and the president is due to go to the Middle East next week. In Brussels, the European Union said it was prepared to hit more than $100 billion of American goods, including cars and airplanes, with tariffs if trade negotiations break down.