US President Donald Trump said on Thursday that he would hold a press conference today to discuss a major deal with the representatives of a “big and highly respected country”.
The news conference in the Oval Office is scheduled for 10 a.m. Washington time, Trump said in a Truth Social post. He, however, didn’t elaborate further.
“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,” he wrote on Truth Social.
Donald Trump has upended global trade with a flurry of announcements regarding tariffs. Trump’s top officials have engaged in a spate of meetings with trading partners since the president on April 2 imposed a 10% tariff on most countries, along with higher tariff rates for many trading partners.
Trump imposed 25% tariffs on autos, steel and aluminium, 25% tariffs on Canada and Mexico, and 145% tariffs on China. Many of these countries imposed punitive tariffs on the United States. The tariff war severely affected global markets, including India, with investors losing billions of dollars due to the erosion of stock values.
On Tuesday, Trump said that he and top administration officials would review potential trade deals over the next two weeks to decide which ones to accept.
Last week, he said that he has “potential” trade deals with India, South Korea and Japan.
Earlier this month, Trump proposed 100 per cent tariffs on foreign movies.
“The Movie Industry in America is DYING a very fast death,” Trump blared on his social media platform over the weekend.
The Donald Trump administration will announce a trade deal on Thursday with the United Kingdom, the New York Times reported late on Wednesday.
Earlier this week, the UK announced a landmark trade deal with India.
With inputs from Reuters, AFP
