Boeing is one of the early winners of the UK's trade deal with the U.S.
"What you're going to hear today is there's going to be an announcement in the UK that they are buying $10 billion worth of Boeing planes later today, but I'm going to let that the name of the airline announce it, because that's theirs to do. And part of this deal was always to do it together and to do it strong. And you can see the numbers on this board" said Commerce Secretary Howard Lutnick on Thursday.
President Donald Trump announced a trade deal with the United Kingdom on Thursday, which he and White House officials touted as boosting America's agriculture industry, particularly beef producers.
The deal will see lower tariffs as well as reduced non-tariff barriers on a number of goods, including agricultural products, though the basic 10% tariff rate the Trump administration previously imposed will remain in place.
The White House said the deal will expand U.S. market access in the U.K. by $5 billion, including $250 million for agricultural products like beef. The U.S. and U.K. governments also committed to working to enhance industrial and agricultural market access.
"It can't be understated… how important this deal is and what this means to American farmers and ranchers," Agriculture Secretary Brooke Rollins said. "Specific to the beef, this is going to exponentially increase our beef exports. And to be very clear, American beef is the safest, the best quality and the crown jewel of American agriculture for the world."
This is an excerpt from an article by FOX Business' Eric Revell
Stocks rallied on Thursday after President Donald Trump confirmed a trade deal with the U.K.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $41,368.57 | 254.60 | 0.62 |
| SP500 | $5,663.95 | 32.67 | 0.58 |
| I:COMP | $17,928.14 | 189.98 | 1.07 |
The Dow Jones Industrial Average closed up 254.48 points, or 0.62%, shy of exiting correction territory.
The S&P 500, the broadest measure of the U.S. stock market, is also just shy of erasing its losses from Liberation Day in early April.
The Nasdaq Composite closed 1.07% higher.
Trump on Thursday morning confirmed a new "full and comprehensive" trade deal with the U.K.
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," Trump wrote in a post on Truth Social. "Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!"
{{#rendered}}Bitcoin , the largest cryptocurrency by market value, returned to the $100,000 level on Wednesday, rising in tandem with the recovering stock market.
The Dow Jones Industrial Average is close to exit correction territory, while the S&P 500 has erased all its losses from Liberation Day in early April.
Cardinal Prevost, from Chicago, has been named the first American Pope and will take the name Leo XIV. A Villanova graduate class of 1977, the school celebrated the historic milestone in a statement:
“As an Augustinian Catholic institution, we celebrate this significant day for our University community and the global Church. Villanova, built on the teachings of St. Augustine, has always been grounded in advancing a deeper understanding of the fundamental relationship between faith and reason—between spirituality and wisdom,” said University President the Rev. Peter M. Donohue, OSA, PhD, ‘75 CLAS. “With today’s election of His Holiness, Pope Leo XIV, I cannot help but reflect on what his Augustinian papacy will mean to our University community and our world. Known for his humility, gentle spirit, prudence and warmth, Pope Leo XIV’s leadership offers an opportunity to reaffirm our commitment to our educational mission."
President Donald Trump said a deal with the United Kingdom is done.
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," Trump wrote on TRUTH Social on Thursday. "Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!"This should be a very big and exciting day for the United States of America and the United Kingdom," Trump added. "The Golden Age of America is coming!" he said on Truth Social.
Trump spoke about the mechanics during an appearance in the Oval Office.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| BA | $191.94 | 6.38 | 3.44 |
Boeing and other American companies are expected to benefit.
{{#rendered}}President Donald Trump didn't hold back after the Federal Reserve left interest rates unchanged on Wednesday.
“Too Late” Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and “eggs”) down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF “TOO LATE!” ENJOY!
This is the third straight meeting where policymakers stood firm.
President Donald Trump on Thursday morning confirmed a new "full and comprehensive" trade deal with the United Kingdom.
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," Trump wrote on TRUTH Social on Thursday. "Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!
"This should be a very big and exciting day for the United States of America and the United Kingdom," Trump added. "The Golden Age of America is coming!"
This is an excerpt of an article by FOX Business' Danielle Wallace and Bradford Betz
Toyota said Thursday it is expecting its profits to decline by more than 20% in the current financial year as tariffs imposed by U.S. President Donald Trump start to bite.
The world's top-selling car manufacturer said it expected operating income to total the equivalent of $26 billion in the year to March 2026, versus the equivalent of $33.2 billion in the year that just ended.
Toyota's results also show how the tariffs have the potential to hit companies on several fronts simultaneously. While the automaker estimated the levies directly costing it at $180 billion in April and May, it said currency movement would be the biggest single impact on its full-year forecast.
Uncertainty around Trump's tariffs and their implication for global trade have weighed on the dollar. For Toyota, a weaker dollar means less profit when U.S. earnings are brought home.
Reuters contributed to this report.
{{#rendered}}President Donald Trump is expected to announce a trade agreement with Britain on Thursday, according to The New York Times.
Trump stated a trade deal will be announced Thursday morning in a post on Truth Social on Wednesday, but did not share any details on the agreement, including which country it's with.
“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.
FOX Business is working to confirm the details of the deal.
President Donald Trump, in a post late Wednesday, said the tax bill is coming together.
"We are making great progress on “The One, Big, Beautiful Bill.” Our Economy is doing well, but it’s going to BOOM in a way never seen before. We are going to do NO TAX ON TIPS, NO TAX ON SENIORS’ SOCIAL SECURITY, NO TAX ON OVERTIME, and much more. It will be the biggest Tax Cut for Middle and Working Class Americans by far, and it is time for Main Street to WIN. MAKE AMERICA GREAT AGAIN!" he posted.
The bill which is making its way through both the House and Senate is expected to extend Trump's 2017 tax cuts, while also including some perks.
Coverage for this event has ended.