Chancellor Rachel Reeves has indicated that the United Kingdom could reduce tariffs on American cars imports while trying to negotiate a commercial agreement with the Trump administration.
Reeves said he wants to “see rates and non -tariff barriers between the United Kingdom and the United States.”
The United Kingdom seeks lower commercial taxes imposed by President Donald Trump or 25% for cars, steel and aluminum and 10% in other British exports.
One of the conflict points for a commercial agreement in the past has been food standards, but Reeves said the United Kingdom would not reduce the thesis.
Today early, a document circulated between business groups and US unions looking for points of view on a possible agreement with the United Kingdom, focused on establishing tariffs in the United Kingdom in US cars to 2.5% since their current 10%.
The Foreign Minister indicated that this was a possibility of reaching an agreement.
President Trump has already imposed tariffs or 25% to all car imports to the US.
The United Kingdom also faces a wider or 10%rate, and is looking to negotiate with the US administration, along with boxes from other countries with only higher levies, most of which are currently in pause until July.
The negotiators of the United Kingdom are working “of floor” to obtain an agreement that is in the national interest of the country, Rees told the BBC in an event in Washington.
“We are willing to reduce commercial barriers in the United Kingdom, those commercial barriers that do exist. And we want to take advantage of the relationship we have,” he added later speaking in a Semafor event.
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.
Speaking to the BBC at an event of the International Monetary Fund (IMF) on Wednesday, Reeves said the United Kingdom “did not rush an agreement.”
But she said that the government was “sure that working with our partners in the US. We can obtain a better commercial relationship and build on the substantial trade that our two large countries already exists.”
“We want to get the right treatment for Great Britain, to better support our industry, our works and consumers,” he added.
Reeves said that the United Kingdom had been “really clear” in discussions with US negotiators “that we are not going to reduce agricultural standards in the United Kingdom.”
“The US administration respects and understands that we have high standards to support British agriculture and support British consumers, and we will not relax those standards,” he said.
Many American farmers use growth hormones as a standard part of their production meat, something that was prohibited in the United Kingdom and the European Union in the 1980s.
The United States has previously pressed for a relaxation of the rules for its agricultural products, including beef of cattle that has growth hormones.
Farmers in the United Kingdom warned the ministers last week that they do not dilute the British food standards, saying that the use of hormones cannot be accepted to raise cattle.
Trump has brought a large number of import tariffs to the United States, arguing that they will boost the manufacture of the United States and protect jobs.
These include, as part of a war in Onbade, taxes or up to 145% in Chinese products. China has responded with a 125% tax on US products.
The measure has shaken the world economy, generating agitation in world financial markets.
Prices are expected to increase for consumers in the US. As a result of tariffs, because companions that import assets fit higher costs.
The IMF has reduced its global growth forecast due to uncertainty caused by tariffs, and says it hopes that the growth of the United States will be harder.
However, Reeves said: “I understand the concerns that the United States has about countries around the world that have great and persistent commercial surpluses with the United States.”
She said that the United Kingdom “is not one of those countries”, so “there is a treatment to make between the United Kingdom and the United States.”
He added that he understood “the need to rebalance the global economy.”
This, in part, is the reason why the United Kingdom announced on Wednesday a review of low value imports that arrive at the United Kingdom, which are “undermining British retail retailers and British,” he said.
This reflects an action from the United States, with the White House prepared to tighten deliveries below $ 800, specifically those sent from China and Hong Kong, on May 2.
It is configured to close a escape that allows low -value packages to enter the US. UU. Without incurring any task.
The elimination of the so -called “The Minimis” rule will affect companies, including the Fast Fashion firm Shein and Temu, the low -cost retail giant.
Shein and Temu have warned that prices will increase “due to recent changes in global commercial rules and rates.”
The United Kingdom government said that the United Kingdom Commercial Remedios Authority (TRE) would put more resources to help companies inform unfair commercial practices as part of their review.
