U.S. Treasury Secretary Scott Bessent on Tuesday (May 6) told a House Appropriations subcommittee that the Trump administration could announce trade agreements with some of the United States' largest trade partners as early as this week,

President Donald Trump, the dealmaker-in-chief, has said for weeks that at least one trade deal is imminent with one of the dozens of countries in active negotiations with the United States to avoid punishing tariffs.

Britain and India clinched a free trade agreement on Tuesday, in a landmark deal that represents London's most significant post-Brexit pact, and was finalised in the shadow of U.S. President Donald Trump's tariff increases.

The UK and India have agreed a trade deal to make it cheaper and easier to buy and sell goods and services to one another. The hope is that the deal will benefit the economies of both countries. The British government said the deal was the "biggest and most economically significant" trade agreement the UK had signed since leaving the European Union in 2020.