The U.S. and United Kingdom have signed a trade deal, the first such agreement since President Donald Trump announced sweeping tariffs on trading partners earlier this year. The deal is set to lower tariffs on steel and automobiles and make it easier for the U.

President Donald Trump on Thursday announced a trade deal with the United Kingdom -- the first in what the White House said it hopes will be a flurry of agreements while the reciprocal tariff pause is in effect.

The first big trade agreement since “Liberation Day” came on May 8, with President Donald Trump celebrating a deal with the United Kingdom that leaders from each nation say will be beneficial for their citizens.