Ahead of the official announcement, set to take place in the Oval Office later today, here's what we know so far.

Prime Minister Keir Starmer has spent months nurturing his relationship with President Trump. That may have just paid off.

The U.S. and U.K. reached a trade agreement to open their markets and lower tariffs. It hasn't been finalized, but it may offer clues to what future trade deals might look like.

President Donald Trump has dismissed critics who have asked how many deals he has brokered after he paused some tariffs last month to allow for negotiations.

Much of the agreement President Trump unveiled Thursday still needs to be negotiated, but the administration said the deal with one of America’s closest allies would be the first of many.

The National Corn Growers Association applauded the new bilateral trade agreement that increases access for American agricultural products to the United Kingdom, including ethanol. During the announcement,

Many other agreements weren’t seen as likely to come together quickly.

Specifics of the plan were not announced, but it does seem unbalanced, at least based on the fact that a 10% tariff will remain on all U.K. imports.

The U.S. and China on Monday agreed to suspend most tariffs on each other's goods pending further negotiations, leading U.S. stock futures higher. The U.K. and the Trump administration last week agreed to the outlines of a trade deal, which include rolling back of tariffs on British steel and cars, though maintaining the U.S.'s global 10% tariff.

Still, the U.S. is far more important for the U.K. economy. It was Britain's biggest trading partner last year, according to government statistics, though the bulk of Britain’s exports to the U.S. are services rather than goods.

The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.