Global Economic Implications of 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 the banking system.

Securing a US Deal: A Top Priority

Reeves emphasized the government's commitment to negotiating a deal with the United States, while ensuring decisions align with the UK's national interest and adhere to strict fiscal rules. "Nothing is off the table," she stated, underscoring the support for businesses hit hardest by the tariffs.

Strengthening Global Trade Relations

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