UK visit gift package? Trump hints at willingness to make trade concessions, reportedly set to sign deals worth over $10 billion, UK shelves zero-tariff plan for US steel

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U.S. President Trump will arrive in the UK on Tuesday, the 16th local time, for his second state visit to the UK during his term this year, and also his second visit to the UK in two months. Statements by Trump and media reports ahead of the visit have revealed what "gifts" he may give and receive during the trip.

Before the visit, Trump stated that he is willing to make some concessions to the UK on trade to ease the pressure of tariff agreements. Meanwhile, media have learned that during Trump's visit, it is expected that more than $10 billion in new economic agreements will be announced, including technology industry cooperation involving billions in new investments. CEOs of Nvidia and OpenAI as well as other American tech leaders are expected to attend the business roundtable meeting with UK and US leaders on Thursday.

According to British media reports on Tuesday, the UK government has shelved the agreement to completely remove tariffs on steel exports to the US. This means that UK steel exporters will continue to face a 25% tariff, although this is still lower than the 50% tariff faced by other countries.

According to Xinhua News Agency, on May 8 Trump announced at the White House that the US and UK had reached a new trade agreement, partially rolling back tariffs in specific sectors and further expanding market access for both sides’ products. However, the White House emphasized that the previous US 10% so-called "reciprocal tariffs" on trade partners would be retained.

Trump Signals Trade Concessions

Before departing for London, Trump said at the White House that the US is "making trillions of dollars" from his tariff policies and that the UK "wants to see if they can get a better deal." He said:

"They (the UK) want to see if they can slightly improve the trade deal." "We have already reached an agreement, it’s a great agreement, I’m willing to help them."

Trump's statement injected new flexibility into the UK-US trade deal, which remained unclear on key details.

The UK was the first country to reach a deal with the US to avoid some high tariffs, but the initial agreement was vague on many key details, leaving them to later negotiation. Trump and Starmer signed a document in June this year, with the US agreeing to lower tariffs on some UK exports. Since then, the UK has continued to push for further reductions, particularly regarding the key issue of steel tariffs.

US officials in an anonymous briefing earlier this week refused to say whether progress would be made on metal tariffs, and said it was unlikely there would be an announcement on Starmer’s push to lower Scotch whisky tariffs.

Economic Agreements Exceeding $10 Billion to be Finalized

Also on Tuesday, media reported that senior US officials revealed that during Trump’s visit to the UK, economic agreements totaling over $10 billion are expected to be announced. These deals cover multiple areas, including technology cooperation, defense technology cooperation, and deepening connections between the two countries’ financial centers.

The officials said a technology cooperation plan will be announced during the visit, expected to bring billions of dollars in new investment. The UK and US leaders will also unveil a defense technology cooperation agreement and measures to strengthen the links between their main financial centers. Parts of these agreements will be announced at a business reception hosted by Chancellor Reeves, which both Trump and Starmer will attend.

In addition to the agreements already announced, the two countries also plan to sign a nuclear energy cooperation agreement, which will allow each side to use the other’s reactor safety design assessments to speed up the approval process for nuclear power plant construction.

On Thursday, Starmer will meet with Trump at the Prime Minister’s country residence, Chequers, and is expected to discuss bilateral investment, steel and aluminum tariffs, and trade policy. Leaders from several top American tech firms, including Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman, will attend the roundtable event at Chequers on Thursday.

UK Shelves Zero Steel Tariff Plan

According to UK media reports on Tuesday, the UK government has indefinitely shelved the original plan to completely remove tariffs on steel exports to the US. Currently, UK steel exports to the US face a 25% tariff, accounting for 6% of the UK’s total steel exports and 9% of export value.

The report said that high-level sources in the UK government insist that the UK is still at a competitive advantage compared to countries facing a 50% tariff, and say they believe "there is still a path to zero tariffs." In July, the UK government and domestic industry welcomed the plan to reduce tariffs to zero in the short term, but this plan has now been shelved.

Sources said that against the global backdrop of cheap steel oversupply leading many countries to impose trade barriers to protect their domestic steel industries, the relatively low US steel tariffs the UK faces at least provide some certainty for the sector.

It is reported that US officials have raised concerns about exports from Tata, the largest steelmaker in the Commonwealth. Tata has closed its blast furnaces, meaning the UK no longer produces steel from scratch and will have to wait until the new electric arc furnace is completed in 2027.

Additionally, the UK steel industry is facing serious financial difficulties. The UK government has taken over the Chinese-owned plant in Scunthorpe, while last month Liberty Steel’s plants in Rotherham and Stocksbridge were also placed under government control.

UK Steel’s managing director Gareth Stace said: "The UK government now needs to strengthen its own trade defense measures to ensure UK steel manufacturers have a sustainable share in the domestic market. This is particularly important. In this market environment, the last country to protect its own industry will be the first to lose it."

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