Rachel Reeves suggests that British trade with the EU more important than we

Washington Dcoliver Smith Faisal Islamreport

Journalist

Washington DC report

Rachel Reeves says there is an agreement to do with the United States

The United Kingdom's commercial relationship with the EU is undoubtedly “more important” than the one she has with the United States, the Chancellor told the BBC.

Rachel Reeves suggested that getting closer to the EU on trade was a greater priority, despite its current accent on talks with the United States.

Before his meeting with the American secretary of the Treasury, Scott Bessent, Reeves said that the government worked “thoroughly” to conclude a trade agreement with the United States.

Earlier this week, she pointed out that the United Kingdom could reduce prices on American cars imports by their current 10% to 2.5% as part of a broader agreement.

The United Kingdom is preparing for a summit with the EU in May to try to “reset” the relationship between the two.

“I understand why the emphasis is so put on our trade relations with the United States, but in fact, our commercial relationship with Europe is undoubtedly even more important, because they are our closest and business partners,” she told the BBC.

“Obviously, I met Scott Bessent this week while I am in Washington, but I also met this week the French, the Germans, the Spanish, the Polish, the Swedish, the Finnish financial ministers – because it is so important that we rebuild these commercial relations with our closest neighbors in Europe, and we are going to do it in a way that is good for British British consumers. “

A Downing Street spokesman said that the Chancellor's comments had been “a statement of fact that the EU is our biggest trading partner”.

The spokesman also stressed that Sir Keir Starmer previously made where he said that it was a “false choice between the EU and the United States”.

Shadow affairs secretary Andrew Griffith told Sky News that his party “would absolutely seek to prioritize” an agreement with the United States above the EU.

Griffith argued that the United Kingdom already had an agreement without a price on goods with the EU, so the “next best choice if you want to develop the economy after the chancellor crashed, it would be to conclude an agreement with the United States”.

The spokesperson for the Liberal Democratic Treasury, Daisy Cooper, said: “The chancellor is absolutely right to say that our commercial relationship with Europe is more important, but the government's approach shows until now that these are only empty words.

“This government has looked back to appease Donald Trump, but barely raised a finger to release growth by stimulating trade with Europe.”

'We are all struggling with prices'

Regarding the situation with the United States, Reeves said that it “understood what the president [Donald] Trump wants to speak “with his prices, before discussions with his American counterpart in Washington.

Reeves said there were similarities with the way in which American and British governments had reached the electricity of voters' frustration with regard to the economy.

Reuters

The Chancellor will meet her American counterpart to plead in favor of a British-American agreement

“We are all struggling with this issue of prices, but I think that President Trump wants to tackle some of the world's imbalances in the system,” she said.

Trump has already imposed 25% prices on all imports of cars in the United States, including the United Kingdom.

The United Kingdom also faces a wider rate of 10% and seeks to negotiate an agreement with the American administration, as well as dozens of other countries struck with even higher samples, most of which are currently on break.

Some US officials have been positive about the prospects for an agreement. Last week, US vice-president JD Vance said that there was “good luck” that a trade agreement could be concluded with the United Kingdom.

Reeves said that she had also worked closely with European and Canadian counterparts to eliminate commercial barriers, and that conversations around the table during G20 meetings this week had been difficult.

“Obviously, there are strains. We all follow what is happening in our national bond markets, in our stock markets, and we all know that this uncertainty is bad for investment in the British economy.”

You can look at the full interview with Faisal with Rachel Reeves here.

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