Fri, 25 Apr 2025

Fri, 25 Apr 2025 Reeves says she understands Trump's trade concerns

The chancellor is set to meet her US counterpart to make the case for a bilateral trade deal.
UK Chancellor Rachel Reeves says she understands US President Donald Trump's motivation behind imposing tariffs on car imports, and that both countries have similarities in terms of economic frustration among voters. Reeves said the UK government is "working flat out" to secure a trade deal with the US ahead of talks between her and US Treasury Secretary Scott Bessant this week. She hinted at a possible lowering of tariffs on US car imports from 10% to 2.5% as part of a wider agreement, but emphasized that any deal would need to benefit not just the UK but also other countries affected by Trump's tariffs. Reeves acknowledged that uncertainty over trade deals is having a negative impact on investment in the UK economy and said that securing a trade agreement with the EU remains her top priority. She pointed out that the UK's trading relationship with Europe is more important than its relationship with the US, given their geographical proximity and shared economic interests.
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