President Trump stated that substantial tariffs on US imports will likely remain, impacting the UK's pursuit of a bespoke trade deal. He cited the significant revenue generated by these tariffs as justification.
Despite Trump's comments, Rachel Reeves, the UK's shadow chancellor, is heading to Washington to lobby for a better deal. The UK has offered concessions, including weakening online safety laws and scrapping a digital services tax, but has resisted lowering food standards.
While the US vice-president expressed optimism for a 'great' deal, Reeves emphasized prioritizing British national interests. Kemi Badenoch, the Conservative leader, highlighted the need for a mutually beneficial deal, rejecting the idea of lowering food standards to facilitate the agreement.
Reeves also addressed the situation surrounding British Steel, stating that the government is actively looking for a new future for the company after ousting its Chinese owner and that nationalization is an option.