Reeves, Bessent Discuss UK-US Trade Deal Amid Tariff Concerns

British finance minister Rachel Reeves is engaging in negotiations with U.S. Treasury Secretary Scott Bessent to pursue a UK-U.S. trade deal aimed at mitigating the impact of tariffs recently imposed by President Donald Trump, including a 10% levy on all UK exports to the US and a 25% tariff on cars, steel, and aluminium. Reeves has expressed willingness to lower UK tariffs on U.S. vehicles, potentially from 10% to 2.5%, if it results in reciprocal benefits such as reduced U.S. tariffs on British exports. However, she has firmly ruled out concessions on UK food standards, online safety legislation, and road safety laws, despite U.S. interest in these areas. Reeves has emphasized the importance of reducing both tariff and non-tariff trade barriers, while also highlighting the need for developed economies to consider resilience and security in trade policy. The broader context of these talks includes shared concerns about global economic imbalances and the impact of China’s export dominance on workers in both countries. While Reeves remains optimistic about reaching an agreement, she insists the UK will not compromise on key regulatory standards to secure a deal.