We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: UK’s balanced commerce with US trims threat of Trump tariffs, claims enterprise secretary Reynolds
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
UK’s balanced commerce with US trims threat of Trump tariffs, claims enterprise secretary Reynolds
The Tycoon Herald > Economy > UK’s balanced commerce with US trims threat of Trump tariffs, claims enterprise secretary Reynolds
Economy

UK’s balanced commerce with US trims threat of Trump tariffs, claims enterprise secretary Reynolds

Tycoon Herald
By Tycoon Herald 5 Min Read
Share
SHARE

Unlock the Editor’s Digest without spending a dime

Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.

Britain’s balanced commerce with the US ought to scale back the danger that Donald Trump slaps contemporary tariffs on its merchandise, enterprise secretary Jonathan Reynolds has claimed. 

The incoming US president has threatened to impose greater tariffs on all imports, leaving its buying and selling companions internationally to think about how they’d reply if hit.

Even when Trump did hit the UK with contemporary tariffs, the federal government would suppose very fastidiously about retaliating, Reynolds added: “In this country there’s no political constituency for protectionism.”

In an interview for the FT’s World Boardroom to be broadcast on Friday, the enterprise secretary additionally performed down the prospects of a conventional free commerce settlement between the UK and US, admitting that Britain’s meals requirements guidelines would stay an impediment to such an accord.

Reynolds admitted that Britain could be affected by a commerce warfare amongst western international locations however mentioned he hoped the UK wouldn’t be instantly focused with extra tariffs by Trump.

The “political philosophy” behind Trump’s name for a worldwide tariff was the president-elect’s concern about US commerce deficits in manufactured items, which “don’t apply to the relationship between the UK and US”, he mentioned.

The US had a commerce surplus with the UK, together with an $8.2bn items commerce surplus within the January-September interval, based on official US figures.

Partly due to distinction in accounting for exports from the Channel Islands, the UK additionally studies a commerce surplus with the US. The overwhelming majority of commerce is, nevertheless, in companies.

Conservative chief Kemi Badenoch has steered Britain ought to strike a proper commerce settlement with the US, however Reynolds cautioned that the 2 international locations had “very different regulatory regimes for agriculture and food”.

Earlier makes an attempt to forge a UK-US commerce deal foundered on Britain’s refusal to simply accept imports of American hormone-treated beef or rooster dipped in chlorine.

However the enterprise secretary mentioned he hoped there have been many different areas the place the 2 sides might negotiate higher buying and selling phrases, together with working extra carefully in areas resembling skilled companies and know-how.

Reynolds mentioned there have been at all times instances the place retaliatory measures could be thought-about if Britain was focused with tariffs by a 3rd nation. However he warned: “Increasing costs of goods or food for your constituents is not attractive.”

Treasury officers say that chancellor Rachel Reeves additionally believes tariffs harm the nation that imposes them and can make the case without spending a dime commerce. “A trade war doesn’t benefit anyone,” one ally of Reeves mentioned.

Lord Kim Darroch, Britain’s US ambassador throughout the first Trump presidency, mentioned this week that it is likely to be higher to answer any US tariffs by “sucking it up”.

Mel Stride, shadow chancellor, advised Westminster journalists on Thursday: “Tariffs will be inflationary, we are a very open economy and if there are tariffs, certainly if there’s anything that tips into what you might call a trade war, then that will be difficult for world growth.”

In the meantime, Reynolds accepted that many enterprise leaders had been indignant over Reeves’ Price range and the £25bn enhance in employer nationwide insurance coverage contributions, however he insisted they understood why it had occurred.

Beneficial

UK’s balanced commerce with US trims threat of Trump tariffs, claims enterprise secretary Reynolds

“Business leaders normally come in to correct a difficult situation,” he mentioned. “They do understand that.”

Whereas he mentioned Reeves had not utterly dominated out future tax rises on this parliament, he mentioned: “The idea that we can always borrow more money and raise more tax — I honestly think we’re at the limit of that.”

Reynolds mentioned he hoped Britain would safe a “very ambitious” enchancment to EU commerce relations, including that the UK ought to search to be on good phrases with Brussels, Washington and Beijing. “That’s an excellent spot for the UK to be in.”

You Might Also Like

The Fed is getting slowly Cooked

FirstFT: Nvidia delivers sturdy outcomes amid market jitters over AI growth

The following stage of the Fed takeover

Postal providers to cease sending low-cost parcels to US as responsibility exemption ends

Our Jackson Gap speech

TAGGED:BalancedBusinessClaimsReynoldsriskSecretarytariffstradeTrimsTrumpUKs
Share This Article
Facebook Twitter Email Copy Link Print
These Trendy Mullet Hairstyles Show That Retro Can Be Refined | FashionBeans
Fashion

These Trendy Mullet Hairstyles Show That Retro Can Be Refined | FashionBeans

Trendy Mullet The fashionable mullet is a refined spin on the unique, outlined by layered motion and clear contrasts. The entrance stays cropped and tidy, whereas the again drops into…

By Tycoon Herald 28 Min Read
College Official Fired for Posting OnlyFans Content material With Spouse, Discusses Particulars
September 2, 2025
Fringe Mullet Appears to be like That Redefine a Traditional Minimize | FashionBeans
September 2, 2025
Marc Guehi’s failed Liverpool switch on dramatic Deadline Day: Views from inside Crystal Palace defined
September 2, 2025
Salma Hayek Celebrates Last Yr of Her Fifties With Purple-Sizzling Bikini Pic
September 2, 2025

You Might Also Like

Brazil deadlocked with US over 50% tariffs, finance minister says
Economy

Brazil deadlocked with US over 50% tariffs, finance minister says

By Tycoon Herald 5 Min Read
Ranking and slating all of the Fed chair candidates
Economy

Ranking and slating all of the Fed chair candidates

By Tycoon Herald 23 Min Read
‘The world is not going to trust our data’: Donald Trump’s BLS choose sparks alarm
Economy

‘The world is not going to trust our data’: Donald Trump’s BLS choose sparks alarm

By Tycoon Herald 7 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Entertainment

Diddy Trial Highlights From twelfth Day of Testimony

Diddy Trial Highlights Ex-Assistant Claims Sexual Assault ... Plus, Cassie & Michael B. Jordan Particulars Printed…

By Tycoon Herald
Business

Shares on tiptoes forward of US payrolls, greenback creeps larger By Reuters

By Tom Westbrook SINGAPORE (Reuters) - Asian shares slipped and traders purchased {dollars} and yen on…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?