The Chancellor says that “understands what president [Donald] Trump wants to go “with his tariffs, before conversations with his American counterpart in Washington on Friday.
Rachel Reeves said there were similarities with the way in which the governments of the United States and the United Kingdom had come to enhance the back of the frustration of voters with the economy.
Speaking to the BBC Economics Faisal Islam editor before its meeting with the United States Treasury Secretary, Scott Bessant on Friday, Reeves said the government was working “plans” to ensure a commercial agreement with the United States.
Earlier this week, he pointed out that the United Kingdom could reduce tariffs on imports of American cars from its current 10% to 2.5% as part of a broader agreement.
“We are all dealing with this issue of rates, but I think it is an understanding why President Trump wants to address some of the global imbalances in the system,” he said.
Trump has already imposed tariffs or 25% to all imports of cars to the US. Even from the United Kingdom.
The United Kingdom also faces a wider rate of 10% and is looking to negotiate an area with the administration of the United States, along with diseases from other countries beaten with even higher levies, most people are currently in pause until July.
Some US officials have been positive about the perspectives of an agreement. Last week, the vice president of the United States, JD Vance, said there was a “good possibility” that a commercial agreement could be reached with the United Kingdom.
Reeves said he also had legs closely working with European and Canadian counterparts to eliminate commercial barriers, and that conversations around the table at G20 meetings this week had bone devaculture:
“Obviously, there are tensions. We are all following what is happening in our national bond markets, in our capital markets, and we all know that uncertainty is bad for investment in the United Kingdom economy.”
Reeves used in Say there would be no celebration if the United Kingdom obtained an agreement since other counters were still affected.
Despite the foreign minister’s approach in the conversations with the United States, he suggested that approaching the EU on trade was a greater priority. The United Kingdom prepares for a summit with the EU in May in an attempt to “restart” the relationship between the two.
“I understand why there is so much focus on our commercial relationship with the United States, but the real one of our commercial relationship with Europe is pressed even more important, because neighbors and commercial partners,” he said.
“Obviously, I’ve been meeting Scott Besent this week while I am in Washington, but also this week with the French, the Germans, the Spaniards, the Poles, the Swedes, the finance ministers of finance finance, because the merchant of Relationship that made those obuilized to those Europe, and we are going to do it in a way that is good for British works and British consumers.”
