The US and the UK are expected to announce a deal to reduce tariffs later.

It's thought US President Trump's blanket 10% tariffs on imports will stay, but that the UK will see cuts to the 25% tariffs on some of its biggest exports.

Here's a look at what could be in the deal.

This isn't a trade deal
US President Donald Trump declared on social media the announcement to come later would be a "major trade deal" - it won't be.

He does not have the authority to sign the type of free-trade agreement India and the UK finalised earlier this week - this lies with Congress.

Congress would need to approve a trade agreement, which would take longer than the 90-day pause in place on Trump's tariffs.

What it will be is some exemptions or lowering of those tariffs on specific goods.

It might be quite basic
What is announced today is likely to be only the bare bones of a narrow agreement.

There will be months of negotiations and legal paperwork to follow.

It could also be relatively short-term, covering just a few items.

Currently, most goods imported from the UK to the US face a blanket 10% tariff and that's expected to remain.

But this deal is likely to reduce tariffs on specific items set to be subject to higher tariffs.