President Donald Trump announced on Thursday that the United States and the United Kingdom have struck a comprehensive new trade agreement, a development he hailed as historic and perfectly timed to coincide with the 80th anniversary of Victory in Europe Day. The announcement provided a boost to markets, with major U.S. stock indices closing higher.
The Dow Jones Industrial Average gained 205 points, or 0.5%, following the news. The S&P 500 also rose by 0.5%, while the Nasdaq Composite advanced by 0.7%.
President Trump first teased the announcement on Truth Social before elaborating on the deal in remarks. He described the agreement as “a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come.”
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He placed particular emphasis on the timing, noting it was a “very special day because it’s Victory Day, World War II, May 8th.” Speaking with UK Prime Minister Starmer on the phone, Trump called it “very unusual” and “incredible” that the trade deal was concluded on the same day as the 80th anniversary of what he called the “greatest victory of them all.”
“Today is a Victory day for World War II. We won the war together exactly 80 years ago, so there could be no more perfect morning to reach this historic agreement,” Trump stated.
According to the President, the deal is the “first in a series of agreements on trade” his administration has been negotiating and affirms “reciprocity and fairness” as a vital principle. He stated the agreement includes “billions of dollars of increased Market access for American exports,” particularly in agriculture, promising dramatically increased access for American beef, ethanol, and other farm products.
Trump added that the UK has agreed to reduce or eliminate numerous non-tariff barriers and will fast-track American goods through customs, aiming to reduce “red tape.” New market access was also secured for American chemicals, machinery, and other industrial products.
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A significant component highlighted by Trump was the inclusion of plans to bring the United Kingdom into an “economic Security alignment” with the United States, described as the “first of its kind.” Both nations have agreed that “economic Security is National secured” and will work together on strengthening their industrial bases, export controls, and protecting key technologies and industries, including steel.
UK Prime Minister Starmer, speaking after President Trump, echoed the sentiment, calling it a “fantastic, historic day” and a tribute to the close working relationship between the two countries. He also stressed the historical significance of the May 8th date, noting that 80 years ago, Winston Churchill announced victory in Europe around the same hour.
Starmer stated the deal will “boost trade between and across our countries,” “protect jobs but create jobs,” and open market access. He highlighted its importance for sectors such as car manufacturing, steel, aluminum, and technology, noting that both the US and UK have trillion-dollar tech sectors.
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He agreed with Trump that “economic security is national security” and that the deal added “trade in the economy” to their already strong defense and security alliance, taking the relationship into “new and important territory.”
President Trump mentioned that the final details of the agreement are being written up in the coming weeks, but asserted that the core deal is “very conclusive.” He also briefly noted a separate, recently ratified rare earth deal with Ukraine. The announcement comes as the administration signals further trade discussions are underway with other countries.
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