Washington DC [US], May 8 (ANI): President Donald Trump is set to announce the formation of a 'comprehensive' trade agreement between the United States and the United Kingdom, the New York Times reported.

Trump described the deal as one that would 'cement the relationship' between the two nations for years to come, calling it a 'great honour' to have the UK as the first such agreement under his leadership.

Sharing a post on the social media platform Truth Social, Trump wrote, 'The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the United Kingdom as our FIRST announcement. Many other deals, which are in serious stages of negotiation, to follow!

'This should be a very big and exciting day for the United States of America and the United Kingdom. Press Conference at The Oval Office, 10 A.M. Thank you,' Trump wrote on Truth Social on Thursday morning.

The British official, who spoke on the condition of anonymity because of the sensitivity of the issue, did not offer details, beyond saying that the deal would be good for both Britain and the United States, the New York Times reported.

The agreement will be the first announced since President Trump imposed heavy tariffs on several of America's trading partners, though he later paused them temporarily to give other countries the chance to negotiate deals with the United States.

A trade deal between the US and the UK could represent a major victory for both nations, which have long aimed for stronger economic ties.

However, Timothy C Brightbill, an international trade attorney at Wiley Rein, said the announcement would probably be 'just an agreement to start the negotiations, identifying a framework of issues to be discussed in the coming months,' the New York Times reported.

'We suspect that tariff rates, nontariff barriers and digital trade are all on the list -- and there are difficult issues to address on all of these,' he added. (ANI)