Trade Secretary Jonathan Reynolds has insisted the UK is best-placed to eventually overturn US trade tariffs, despite failing to secure an exemption so far. Reynolds stated that the UK expects to be hit by a new wave of import taxes set to be announced by President Donald Trump on Wednesday. However, he emphasized that ongoing talks with the Trump administration put the UK in the “best possible position of any country” to have the tariffs reversed.
Economists warn that significant tariffs could disrupt the UK’s economy and make it harder for the government to meet its borrowing targets. Trump had previously suggested exemptions for certain countries, but over the weekend, he indicated that the tariffs would apply to all nations, not just those with large trade deficits with the US.
Prime Minister’s officials described recent discussions on a potential economic deal to avoid tariffs as “constructive,” but did not rule out retaliatory measures if the UK is affected. Reynolds did not provide a timeline for an exemption but said the government is keeping “all options on the table.” He expressed confidence that the UK and US could not only avoid mutual tariffs but also strengthen their trade relationship, noting that progress typically taking years had been achieved in days.
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