Donald Trump announced a new US-UK trade deal in the Oval Office on Thursday, cutting tariffs on a number of industries where the two nations do business.

Prime Minister Sir Keir Starmer phoned in to the press conference, telling reporters it was a "fantastic, historic day" and that the trade deal represented a "real tribute to the history that we have of working so closely together". He added: "In the end it comes down to economic security is national security." As part of the deal, the US will remove tariffs on UK steel and aluminium and reduce levies on cars from 27.5% to 10%. In return, the UK will cut red tape on American beef, ethanol and other agricultural goods.

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During the White House event to announce the deal, Mr Trump called the UK a "most cherished" ally and said the agreement reaffirmed the "reciprocity and fairness" he believes is essential to international trade.

Though the final details of the deal have not yet been confirmed, the US President assured reporters the full agreement would be available in the coming weeks, and that it was "conclusive".

A number of US officials were present in the Oval Office, alongside UK ambassador Lord Peter Mandelson, who said the deal was "the end of just the beginning," calling the deal a "platform" for further cooperation.

He added: "If we’re going to rebalance and rebuild international trade in a way that serves all our interests, then we’re better doing that together than separately."

Mr Trump confirmed US officials would travel to Switzerland at the weekend to continue trade talks with China, saying in a Truth Social post that America is "open for business".