US and UK Poised to Ink Trade Deal—Just in Time to Distract From Their Crumbling Economies

Washington and London racing to sign pact before next election cycle derails negotiations.

Behind the handshakes: Both sides desperate to show post-Brexit trade wins as inflation bites.

The fine print: Expect token digital trade条款 buried under 400 pages of agricultural quotas.

Bonus cynicism: Treasury officials already calculating how to spin this as ’good for crypto’ when it inevitably isn’t.

The UK and US Closing in on New Trade Deal

Early Tuesday, news broke that the United Kingdom and India reached a landmark free trade agreement. The development was set to benefit the former in a major way, as consumers were set to get a reprieve from tariff costs. Subsequently, all eyes were fixed on the US, which is currently negotiating a new trade deal with both countries.

The prospects for a new deal became increasingly optimistic today. Indeed, the UK and the US are expected to sign a new trade agreement this week. Specifically, a new report notes that UK trade negotiators are traveling to Washington. The purpose of the visit appears to be the finalization of the terms.

There still remain “disagreements” over the pharmaceutical sector. However, they are not expected to threaten a finalized deal. Additionally, the UK is hoping it can gain an exemption from the 25% tariff on both steel and automakers. In turn, the UK is offering “concessions” in digital services taxes on tech companies.

In late April, it was reported that President Trump designated a UK trade deal as a “second-order priority.” This had many concerned that an agreement would not come to pass by this month. Yet, that appears not to be the case. US Treasury Secretary Scott Bessent recently told Congress that trade deals could come “as early as this week.” Although he reserved some details, it now appears the UK was part of that list of progressing negotiations.