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UK Business Secretary Pushes for Trade Agreement in Washington Talks

Jonathan Reynolds seeks to address US steel tariffs and strengthen economic ties with a focus on key industries and technology partnerships.

Britain's Secretary of State for Business and Trade Jonathan Reynolds walks on Downing Street on the day of the budget announcement, in London, Britain October 30, 2024. REUTERS/Isabel Infantes/File Photo
Britain's Secretary of State for Business and Trade Jonathan Reynolds speaks at Downing Street, on the day of a Cabinet meeting in London, Britain, January 14, 2025. REUTERS/Chris J. Ratcliffe/File Photo
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Overview

  • Jonathan Reynolds is meeting US officials in Washington to advance discussions on a potential UK-US bilateral trade agreement.
  • The talks aim to address the impact of US-imposed 25% tariffs on steel and aluminum, which the UK has criticized but not retaliated against.
  • The UK is advocating for a broader economic deal, emphasizing collaboration in industries like steel, energy, and advanced technologies, including AI and quantum computing.
  • The US has maintained its position of no exemptions to the tariffs, while the UK government continues to explore all options for a strategic response.
  • The US remains the UK’s largest single-country trading partner, with over $1.5 trillion invested between the two economies.