Weeks after slapping tariffs on a raft of countries to strong-arm them into signing trade agreements with the US, President Donald Trump teased a "major trade deal" with a "big, highly respected country" is in the offing.

"Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!" Trump wrote on Truth Social.

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Trump, who has long championed himself as the "dealmaker-in-chief", has repeatedly suggested that multiple bilateral trade pacts are in the final stages of negotiation, with dozens of countries currently in talks with the US to avoid further punitive tariffs.

While the US President did not name the country involved in the announcement to come on Thursday, the BBC and CNN reported the deal will likely be with the United Kingdom. If that pans out, it would be the second trade win for the UK this week, after finalising a long-awaited free trade agreement with India.

Previously, the Trump administration had identified India, Japan and South Korea as among the most likely to reach a trade deal first.

Trump’s sweeping tariff plan was designed to push trade partners to the negotiating table, with the goal of securing better terms for the US and narrowing the trade deficit. He set a strict timeline: the tariffs took effect on April 7, but were paused just two days later for a 90-day negotiation window, set to expire on July 8. Without deals in place, duties as high as 50 per cent could snap back into force on dozens of countries.

"I’m telling you, these countries are calling us up, kissing my a**," Trump said last month ahead of the tariff implementation. "They are dying to make a deal. ‘Please, please, sir, make a deal. I’ll do anything. I’ll do anything, sir!’"

At the time, the administration projected an aggressive pace. "We’ve got 90 deals in 90 days possibly pending here," Trump's trade adviser Peter Navarro told NBC News following the tariff pause.

However, that optimism has cooled. In recent days, Trump has noticeably toned down his rhetoric, acknowledging that trade agreements aren't emerging as fast as hoped.

Behind the scenes, officials are facing mounting criticism that the tariffs could drive up prices for American consumers and further strain an already slowing economy.

Although administration officials maintain that the US is deep in negotiations with over a dozen nations, the reality is that trade deals are complex and often take years to finalise. And despite activity with other partners, the most critical relationship — with China — remains stalled.

No talks have taken place since Trump imposed a staggering 145 per cent tariff on Chinese imports, effectively freezing dialogue with the country that remains America’s largest trading partner.

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