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

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

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.

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.

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.

President Trump lauded the agreement as the first with a major trading partner since he imposed blanket tariffs on countries worldwide.

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,

U.K. trade front as a hopeful sign that more agreements can be reached, as President Trump starts making some headway on the trade fight he started months ago, said Peter Cardillo, chief market economist at Spartan Capital Securities.

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.

U.K. trade agreement could provide a blueprint for other "close" nations to follow. "I don’t think we are out of the woods," said Ameriprise Chief Market Strategist Anthony Saglimbene, in a phone interview.