The president says the deal with the ‘highly respected country,’ will be the first of many.
President Donald Trump said he would hold a news conference on Thursday morning to unveil what he described as a major trade deal.
The media event will concern a “major trade deal with representatives of a big, and highly respected, country. The first of many!!!” he wrote in capital letters on Truth Social on Wednesday.
The news conference will be held at 10 a.m. in the Oval Office, the president said.
He did not specify which country was involved or provide details on the agreement.
The announcement comes as the Trump administration has accelerated trade negotiations with numerous trading partners after the president paused reciprocal tariffs on most countries until July 9.
‘Good Offers’
During a House hearing Tuesday, Treasury Secretary Scott Bessent told lawmakers Tuesday that the United States has received “good offers” in ongoing tariff negotiations with 17 major trading partners, with some deals expected to be announced this week.
Bessent did not specify which countries are involved but said he anticipates a “substantial reduction of the tariffs that we are being charged, as well as non-tariff barriers, currency manipulation, and subsidies.”
He projected that “perhaps as early as this week we will be announcing trade deals with some of our largest trading partners.”
U.S. Trade Representative Jamieson Greer recently said the administration expects to finalize initial tariff deals with some countries “within weeks.”
Greer told Fox News last week that the administration’s efforts are focused on achieving reciprocal trade, reducing the $1.2 trillion trade deficit, expanding market access, and lowering both tariffs and non-tariff barriers.
“I would say that we have deals that are … close,” he said.
“We’re talking about a matter of weeks and not months, to have some initial deals announced.”
Greer noted ongoing talks with Vietnam and upcoming meetings with representatives from Japan, Guyana, Saudi Arabia, and the Philippines.
He also described South Korea as “very forward-leaning” in negotiations and said discussions with the United Kingdom and India are progressing, though a deal with India is not yet imminent.
Greer clarified that while he held a call with Chinese Vice Premier He Lifeng to announce reciprocal tariffs, no official talks have been held with China. He also rebutted claims that U.S. economic policies are intended to pressure Beijing, stating the administration seeks fair trade with China.
Bessent and Greer will meet with their Chinese counterparts on Saturday in Switzerland, marking an initial step in potential trade negotiations.
Tariff Generated Revenue
Trump has previously stated that he is not rushing to finalize agreements.
“We are sitting on the catbird seat. They want us. We don’t need them.”
According to the Treasury Department, tariffs have generated $15.9 billion in revenue, a 105 percent increase from the previous year. The president has also imposed higher tariffs on China, Canada, and Mexico, with exemptions for imports compliant with the United States–Mexico–Canada Agreement.
While Bessent noted that talks with China have not yet started, Trump told NBC News that China “want[s] to make a deal very badly,” and that any agreement “has got to be a fair deal.”
From NTD News