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.

The trade deal, which calls for tariffs to be slashed on UK exports of cars, steel, and aluminum from the previous 27.5 percent and 25 percent, means most UK exports will now be subject to Trump's baseline 10 percent tariff, but that still means the UK is facing higher tariffs than was the case before Trump came to power.