'Concept of a plan': Trump hypes 'major trade deal' with UK — experts say it’s not

08 May

U.S. President Donald Trump attends a cabinet meeting at the White House in Washington, D.C., U.S., April 10, 2025. REUTERS/Nathan Howard

Economic and political experts are panning President Donald Trump’s tariff “deal” with the UK, saying it doesn’t live up to his hype.

The President teased out the announcement Wednesday, at first not mentioning the alleged deal was with the UK.

“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!!!”

At 5:42 AM, building up the excitement, he dropped this post: “This should be a very big and exciting day for the United States of America and the United Kingdom. Press Conference at The Oval Office, 10A.M. Thank you!”

Except the United Kingdom did not appear to agree.

“Until as recently as this week, British officials remained skeptical that a deal would be signed off imminently, and some were taken by surprise by Trump’s announcement,” The Wall Street Journal reported. “Some trade observers expected more of an outline than a fully hashed-out deal.”

Critics were quick to dismiss the President’s deal as lacking in substance.

“Trump’s so called ‘trade deal’ with UK is just like his ‘great’ healthcare plan: It’s the CONCEPT of a plan,” declared SiriusXM host Dean Obeidallah. “LITERALLY. Per reporting if you read past the headlines There is no deal – just a framework to start talks. But Trump knows the sheep of corporate media will cover this as a deal. It’s not.”

The Journal also noted that “U.K. officials said the pact won’t be a comprehensive trade agreement and will instead focus on reducing tariffs in specific sectors. They said some details remain yet to be finalized, which could mean further talks in the future.”

Bloomberg UK’s political editor Alex Wickham framed it this way: “UK providing a polite reality check to Trump’s posts about a ‘full and comprehensive’ deal UK-US deal will set out general terms of agreement: UK official Will set framework for further negotiations: UK official Focused on specific sectors, not traditional FTA: UK official.”

And doubling down, WSJ added that the “expected pact will be a far cry from the comprehensive trade deal Downing Street previously sought to negotiate with the U.S. after Britain quit the European Union a few years ago.”

Calling it “a photo op, with little macroeconomic significance,” Professor of Economics and Public Policy Justin Wolfers offered this explanation:

“Trump’s “big” trade deal is with the UK:
– It’s a framework not a deal
– They’re our 11th largest trading partner
– They’re only 3% of US trade (97% to go)
– They *already* charge average tariffs of only 1% (limited upside)”

U.S. Senator Ron Wyden commented, “About 2 percent of our imports come from Great Britain. So put me down as kind of skeptical that there is much there, there.”

Hedge fund founder and chief investment officer Spencer Hakimian observed: “So after 4 weeks of negotiating with our closest ally, whom we run a *trade surplus* with, all we were able to accomplish was a continuation of the 10% tariff rate with them? How are we going to possibly negotiate anything substantive with China, Europe, Mexico, Vietnam, Taiwan, etc.? The gimmick president doing gimmicky things. And meanwhile our economy will pay the price for his desire to see himself on TV.”

Brendan Duke, a self-described “Tax/budget nerd” for the Center on Budget and Policy Priorities (CBPP) noted: “The Liberation Day reciprocal tariff on UK imports was 10% and it’s now going to be 10%. Art of the Deal folks.”

From Your Site Articles