Europe Asia News

Trade Secretary Reynolds made a statement in Parliament regarding the United States (US) tariffs.

He noted that the UK has a strong and balanced trade relationship with the US worth £315 billion, supporting 2.5 million jobs in both countries. “This is second only to the EU, with whom our trade relationship is worth £791 billion,” he said.

Reynolds stated that last night, the US announced a 10% reciprocal tariff on UK exports, and today imposed a 25% global tariff on automobiles, following the March 12 announcement of a 25% tariff on imports of steel, aluminum, and related products.

He emphasized: “We have a clear goal to ensure economic security for working people. We are progressing towards a deal that can deliver this. Otherwise, we are laying the groundwork to act quickly and ensure British businesses have a clear voice on what comes next.”