Economic analyst Peter Schiff wrote on X: "Investors are excited about Trump's trade deal with the U.K., our first victory in the trade war. The effective tariff rate on U.S. goods entering the U.K. is 0.5 percent. So, from the American perspective, what we stand to win from the deal is relief from Trump's tariffs on U.K. imports."

Trump imposed "reciprocal" tariffs on nearly all other countries, but quickly paused them to allow time to negotiate trade agreements with the United States.

The United States and Britain are expected to announce a trade deal Thursday that will lower the burden of President Donald Trump’s sweeping tariffs and deliver a political victory for U.K. Prime Mini