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5mo ago

UK Intensifies Efforts for US Trade Deal as Reeves Prepares for Washington Talks

Chancellor Rachel Reeves will lobby for tariff reductions while balancing trade ties with China and the EU.

Britain's Prime Minister Sir Keir Starmer holds a press conference on nationalising British Steel, at Downing Street on April 11, 2025 in London, Britain. Carl Court/Pool via REUTERS
British exports to the United States face a baseline tariff of 10 per cent
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Overview

  • President Trump has imposed sweeping tariffs on UK imports, including a 10% blanket duty and 25% levies on cars, steel, and aluminium, with potential pharmaceutical tariffs looming.
  • Chancellor Rachel Reeves is set to meet US Treasury Secretary Scott Bessent during the IMF spring meetings to lobby for tariff exemptions and a stronger UK-US trade relationship.
  • Prime Minister Keir Starmer held a 35-minute call with Trump, reaffirming the UK's commitment to free trade and ongoing negotiations to mitigate the tariffs' impact.
  • The UK has proposed reducing its digital services tax in exchange for sectoral tariff reductions, focusing on steel, aluminium, and cars, though pharmaceuticals remain unresolved.
  • Reeves has emphasized the importance of maintaining economic ties with China, despite US pressure to isolate Beijing, while safeguarding sensitive national infrastructure from Chinese investment.