President Donald Trump is hinting at a significant trade deal. In a social media post, he announced a news conference scheduled for Thursday morning at 10 a.m. to reveal details about the agreement.

Trump described it as a "major trade deal with representatives of a big and highly respected country." A source familiar with the matter indicated that the country in question is the United Kingdom.

While this may disappoint some, as many are anticipating that the massive tariffs against China will have the largest impact on the U.S. economy, Trump emphasized that this deal would be "the first of many." The U.K. remains a crucial trade partner for the United States.

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The U.K. sits behind Canada, Mexico, China and the Netherlands as one of the largest purchasers of U.S. goods. The U.K. ranks No. 12 in exports to the U.S.

The United Kingdom is among just a handful of nations in which the U.S. has a trade surplus, as the U.K. imported $79.9 billion in U.S. goods in 2024 while exporting $68.1 billion.