Downing Street has announced that Sir Keir Starmer will provide an update on trade discussions with the US later today, amidst speculation that US President Donald Trump is poised to reveal a trade agreement with the UK. Trump hinted at a "major trade deal" with a "big, highly respected country" in a post on his Truth Social platform, with expectations of a press conference around 3pm UK time. The New York Times and other American media outlets have reported that the deal is with the UK. A spokesperson for Number 10 confirmed that negotiations with the US are progressing rapidly and that the Prime Minister will give an update later on Thursday (May 8). The UK Government has been actively seeking a trade deal with the US following the imposition of significant tariffs by Mr Trump last month, which included a 10% levy on all UK exports and a 25% tariff on steel, aluminium, and automobiles. Join the Manchester Evening News WhatsApp group HERE Although Number 10 anticipated an announcement regarding a deal, the timing of Trump's social media post was unexpected, especially as Sir Keir was scheduled to concentrate on VE Day commemorations today. Should Trump declare a trade agreement with the UK, it would be the first since he introduced the tariffs on April 2. There have been reports suggesting that the potential deal might involve the UK lowering certain tariffs on American goods and amending the digital services tax that predominantly impacts US tech firms. The Government has made it clear that there will be no compromise on food standards to accommodate more US agricultural products, nor will there be any dilution of the Online Safety Act, despite some American critics viewing it as an infringement on free speech. A spokesperson for Number 10 said: "The Prime Minister will always act in Britain's national interest – for workers, for business, for families. "The United States is an indispensable ally for both our economic and national security." This statement comes ahead of a potential announcement on Thursday, which follows closely after the UK's disclosure of securing a trade agreement with India, a move Sir Keir has praised as a "landmark deal". The Liberal Democrats are pushing for Parliament to have a say on any US trade deal to ensure thorough scrutiny. Daisy Cooper, the party's deputy leader and Treasury spokeswoman, expressed concerns: "A good trade deal with the US could bring huge benefits, but Liberal Democrats are deeply concerned that it may include measures that threaten our NHS , undermine our farmers or give tax cuts to US tech billionaires. "If the Government is confident the agreement it has negotiated with Trump is in Britain's national interest, it should not be afraid to bring it before MPs."