UK's Hopes for Tariff Relief Hinges on New Deal with U.S.

The UK hopes U.S. tariffs introduced by President Trump can be reversed through an economic partnership. Business minister Jonathan Reynolds affirms a framework for an agreement is in place. Britain, avoiding retaliation, seeks alignment with the U.S. in tech and AI to facilitate a resolution.

The UK remains optimistic that U.S. tariffs, imposed under President Donald Trump, will soon be lifted if both nations can establish the groundwork for a new economic partnership, business minister Jonathan Reynolds stated on Tuesday. By seeking closer alignment with the U.S. on technology and AI, Britain aims to avoid Trump's global tariffs.

Reynolds expressed his belief that levies scheduled for announcement would be rescinded once terms are agreed. "The framework of an agreement is certainly in place," he remarked to the BBC, adding that a timeline satisfactory to the U.S. could be established after signing heads of terms.

Despite the risk of prolonged tariff discussions, Reynolds indicated no immediate plan for retaliation. Maintaining a light regulatory touch on AI, the UK hopes for a favorable outcome by being closely aligned with U.S. interests, aiming to attract significant investment from tech giants.

(With inputs from agencies.)