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Bloomberg Audio Studios, Podcasts, Radio News. Welcome to In The City.

Each week we unpack a story that's crucial to the world's financial capitals.

I'm Franzine-Lakwa.

And I'm David Merritt.

So, David, it's fair to say it's been a world-wind week, actually a world-win day for UK trade on Thursday, first a deal with India and now a surprise announcement, a US-UK trade agreement. Absolutely. And you know, we're taping this just as the press conference has been going on from the Oval Office. We've been watching Trump. Starman's been down the line on the phone. The new United States ambassador, Peter Mandelson,

is standing there looking very smart and pleased behind that. Howard Lucknick, the Commerce

Secretary has been talking. So this is unfolding real time. The details of this trade deal is coming.

And of course, the US-UK trade deal has been long been the prize, hasn't it? British governments

ever since Brexit have been after. Has it now actually come to pass? Yeah, and I think the good news for markets broadly is that the pact is probably seen as a potential blueprint for other trade deals. So there seems to be a little bit of Effervesensen saying, look, this is the first one we may get more deals, but then is it really a trade deal or is it more like an economic deal? Is it, can I give you this, I give for that, but it's not maybe the all-encompassing trade deal that the word suggests. And, you know, we'll be pouring through the details, obviously, and I imagine there's going to be a lot of this in the press in the coming days. So we're going to have sort of zoom a bit out of this and think,

you know, what are the, what is the significance of this deal? It is a coup, you know, we have to

...