11:38 AM EDT, 05/08/2025 (MT Newswires) -- (Update with details on UK Boeing procurement in third paragraph.)

US President Donald Trump announced a new trade deal with the UK on Thursday during a press conference in the Oval Office.

"The deal includes billions of dollars of increased market access for American exports, especially in agriculture, dramatically increasing access for American beef, ethanol and virtually all of the products produced by our great farmers," Trump said.

Commerce Secretary Howard Lutnick said the US will allow the UK to ship Rolls Royce engines for Boeing ( BA ) airplanes "tariff-free." Lutnick also said the UK is set to announce a $10 billion purchase of Boeing ( BA ) planes, according to media reports.

Final details of the deal will be concluded in the coming weeks, Trump said.

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