The ink on Britain’s landmark post-Brexit trade deal with India had hardly dried before the news broke that an agreement with the US was imminent. Writing on Truth Social overnight, Donald Trump said it was a “great honour” to have the UK be the first trade deal signed with the United States, claiming it will be “full and comprehensive”.

Donald Trump and Sir Keir Starmer hailed a “historic” US-UK trade deal which will see tariffs slashed on cars from the UK and more US beef exports to Britain. The US president stressed that Britain and America had struck the first trade agreement since his “Liberation Day” wave of tariffs which have caused economic carnage around the world.

Simply sign up to the Chinese trade myFT Digest -- delivered directly to your inbox. China has criticised a trade deal between the UK and US that could be used to squeeze Chinese products out of British supply chains,