President Donald Trump unveiled the framework for a trade agreement with the United Kingdom on Thursday, marking the first such accord with any nation since the White House suspended some of its far-reaching "Liberation Day" tariffs last month.

A rally in the pound fizzled out and UK stocks saw tentative gains after reports that US President Donald Trump is expected to announce a trade pact with Britain later Thursday.

The Trump administration announced a trade deal with the United Kingdom Thursday in grandiose terms, but with only limited details about what it achieves.

While the details of the deal are still being worked out, it will lower tariffs on cars imported from the UK to 10%, while slashing levies on beef products.

In Trump's new trade pact with the UK, we got a glimpse of the types of agreements he may seek across the globe.

Final details are under wraps but Trump promised the deal provides billions of dollars in access for U.S. agricultural products like beef and ethanol.