President Trump is expected to announce a trade deal with the UK later on Thursday, the first for his administration since imposing sweeping "reciprocal" tariffs against all trading partners in early April.

Delegations will meet this weekend in Switzerland for the first major talks between the world’s two biggest economies since Trump sparked a tariff war in his second term.

The combined value of goods exchanged between the U.S. and China was $40.8 billion in March 2025. That is the lowest figure recorded by the U.S.