Global Market Reactions to US Tariffs

British Chancellor Rachel Reeves highlighted the significant impact of US tariffs on the global economy, noting the volatile reactions in international markets. She reassured the public with Bank of England Governor Andrew Bailey's confirmation of the UK market's effective functioning and the resilience of its banking system.

Securing a Deal with the US

Reeves emphasized the government's commitment to securing a deal with the United States as a top priority. However, she made it clear that the UK would make decisions based on national interest, firmly supported by its strict fiscal rules. "Nothing is off the table," Reeves stated, underscoring the UK's readiness to support businesses, especially those hardest hit by the tariffs.

Global Trade and Economic Diversification

In her address to the House of Commons, Reeves also mentioned the UK's efforts to collaborate with allies to lower trade barriers worldwide and diversify its economic relationships, aiming for a more stable and prosperous global economy.