Trump announces staggering figure UK trade deal will raise as markets rebound: Live updates

By Nikki Schwab, Chief Campaign Correspondent at the White House

The Dow popped up 200 points Thursday with the announcement that President Donald Trump and British Prime Minister Keir Starmer agreed to a U.S.-U.K. trade deal.

Trump sent the markets spiraling with his ‘Liberation Day’ tariff announcement on April 2, setting 10 percent tariffs on most of the world, and higher reciprocal tariffs on countries that the president defined as bad trade actors.

The president then walked back the higher tariffs, putting them on pause for 90 days, while negotiations were ongoing.

Thursday’s announcement with the U.K. marked the first completed trade deal.

Trump put Starmer on the phone in the Oval Office as he cheered the deal.

By Katelyn Caralle, Senior U.S. Political Reporter

Donald Trump blamed former Transportation Secretary Pete Buttigieg, 43, for prevailing ‘air traffic problems.’

The president railed against Buttigieg, who ran for the Democratic presidential nomination in 2020 and is likely looking to launch another bid for the White House in 2028.

‘Air Traffic problems caused by the incompetent Biden Administration, as headed by, in this case, a total novice and political hack, Pete B. I WILL FIX IT!!!’ Trump posted to Truth Social on Thursday.

The attack comes after a series of disasters and close calls in commercial U.S. air travel.

Joe and Jill Biden are re-emerging from their post-White House life to hit back against a spate of new books revealing embarrassing details about the former president’s declining health.

Their first big joint stop will be an interview on ABC’s The View on Thursday morning but the former first couple have other options they are considering, including a massive deal to publish their tell-all memoirs.

Biden is already hard at work on his own tome about his White House years, writing at his home office in Delaware and his post-presidential office in Washington D.C.

Donald Trump revealed he has struck a huge trade deal with the United Kingdom, the first such agreement since he launched a global trade blitz last month.

The president promised many more deals would follow with other countries after his ‘Liberation Day’ tariffs sent the world economy into a tailspin.

It means Trump is handing a big political victory to a key ally, UK Prime Minister Keir Starmer, who has been negotiating behind the scenes with the White House for weeks.

Fed chair Jerome Powell said uncertainty about the economy has only increased in the first decision since President Trump unleashed a series of aggressive tariffs on much of the rest of the world.

Powell said the possibility of the nightmare situation of stagflation – where inflation remains high and unemployment also increases – has increased, in a stark new warning.

‘If the large increases in tariffs that have been announced are sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth and an increase in unemployment,’ Powell said.

Rising prices and more unemployment threatens the Fed’s dual mandate to keep prices in check while ensuring a healthy labor market.

Inflation currently remains ‘somewhat elevated’ according to the Fed’s statement.