Chancellor Rachel Reeves has admitted that the UK could lower tariffs on US car imports, as she seeks to negotiate a trade deal with the Donald Trump administration.
According to the BBC, Reeves said she wants “to see tariff and non-tariff barriers reduced between the UK and the US”.
The UK is aiming to reduce trade levies imposed by Trump—25 per cent on cars, steel, and aluminium, and 10 per cent on other British exports.
One of the longstanding sticking points for a trade agreement has been food standards, but Reeves stated that the UK would not be lowering these.
Earlier today, a document circulated among US business groups and unions sought views on a potential agreement with the UK, focusing on lowering UK tariffs on US cars to 2.5 per cent from the current 10 per cent.
Reeves has now indicated she is open to this, in pursuit of securing a broader trade deal.
Trump has already imposed tariffs of 25 per cent on all car imports to the US—including those from the UK.
“We are willing to reduce trade barriers in the UK, those trade barriers that do exist. And we want to build on the relationship that we have,” Reeves said, while speaking at a Semafor event.
