President Donald Trump is "determined to continue with a "10% baseline tariff" against all countries despite his U.K. trade deal, the White House said.

The U.S. has a $12 billion trade surplus with the United Kingdom, meaning it already exports more than it imports. Meanwhile, the baseline 10% tariff Trump announced April 2 will remain in effect for most U.K. imports, which could lead to higher prices for consumers.

The United States and the United Kingdom will announce a new trade deal Thursday morning in response to President Donald Trump's tariffs.