Overview

• Rachel Reeves concluded meetings with US Treasury Secretary Scott Bessent in Washington without progress on securing relief from Trump's 10% blanket and 25% sectoral tariffs on UK exports.
• The US introduced fresh demands for the UK to cut its car import tariffs, but Reeves declined to make concessions on food standards or online safety legislation.
• Reeves reiterated that rebuilding trade relations with the EU is a higher priority for the UK, calling the bloc its 'nearest neighbors and trading partners.'
• Downing Street distanced itself from Reeves's remarks, stating that both EU and US trade relationships are equally important and rejecting the notion of choosing between them.
• The UK is preparing for a May summit aimed at resetting post-Brexit ties with the EU, as the government navigates the economic and political challenges of balancing transatlantic and European trade priorities.