UK Chancellor Advocates Reduced Trade Barriers with EU

In a historic move, UK Chancellor Rachel Reeves addressed the Eurogroup of finance ministers, marking the first time a British Chancellor has done so since Brexit. She emphasized the need for a 'businesslike' relationship with the EU to boost economic growth and living standards, arguing that reducing trade barriers is essential for competitiveness. Reeves highlighted the importance of collaboration on shared challenges, such as the war in Ukraine, while confirming that the UK will not seek to rejoin the single market or customs union. Critics, including Shadow Business Secretary Andrew Griffith, suggest that the UK should focus on strengthening ties with the US instead. Meanwhile, ongoing negotiations between India and the EU for a Free Trade Agreement indicate challenges on both sides regarding trade duties and market access. The UK government aims to reset its relationship with the EU while keeping key Brexit commitments intact.