Rachel Reeves to move to Washington amid hopes of US commerce deal

Rachel Reeves will pledge to “arise for Britain’s nationwide curiosity” as she heads to Washington DC amid hopes of a UK/US commerce deal.

The chancellor will fly to the US capital for her spring conferences of the Worldwide Financial Fund (IMF), the primary of which started on Sunday.

Throughout her three-day go to, Ms Reeves is about to carry conferences with G7, G20 and IMF counterparts concerning the altering international financial system and is predicted to make the case for open commerce.

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The chancellor may also maintain her first in-person assembly together with her US counterpart, treasury secretary Scott Bessent, about putting a brand new commerce settlement, which the UK hopes will take the sting out of Mr Trump’s tariffs.

Along with the ten% levy on all items imported to America from the UK, Mr Trump enacted a 25% levy on automotive imports.

Ms Reeves may also be hoping to encourage fellow European finance ministers to extend their defence spending and talk about one of the best methods to help Ukraine in its struggle in opposition to Russia.

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Talking forward of her go to, Ms Reeves stated: “The world has modified, and we’re in a brand new period of worldwide commerce. I’m in little doubt that the imposition of tariffs can have a profound impression on the worldwide financial system and the financial system at dwelling.

“This altering world is unsettling for households who’re nervous about the price of residing and companies involved about what tariffs will imply for them. However our process as a authorities is to not be knocked astray or to take rash motion which dangers undermining individuals’s safety.

“As a substitute, we should rise to satisfy the second and I’ll at all times act to defend British pursuits as a part of our plan for change.

“We’d like a world financial system that gives stability and equity for companies wanting to speculate and commerce, extra commerce and international partnerships between nations with shared pursuits, and safety for working individuals who wish to get on with their lives.”