Rachel Reeves to Champion Free Trade Amidst Trump Tariff Threats

Rachel Reeves, Britain's finance minister, plans to advocate for free trade in her upcoming Mansion House Speech. This comes as Donald Trump, the newly elected U.S. president, proposes significant tariffs. The tariffs could hinder UK's economic growth, impacting Prime Minister Keir Starmer's economic promises.

Rachel Reeves, Britain's finance minister, is gearing up to make a pivotal speech promoting free trade in the face of soaring trade tariffs proposed by U.S. President Donald Trump. The Obersver reported on Saturday that Trump's administration could enforce a 10% tariff on all imports and a hefty 60% on imports from China.

Reeves will deliver her influential Mansion House Speech to the financial and professional services industry on Thursday, emphasizing Britain's commitment to free and open trade. In a statement on Wednesday, Reeves assured she would firmly represent her stance to the U.S. administration, as cited by The Observer.

Analysts from the National Institute of Economic and Social Research indicate that if implemented, Trump's tariffs could significantly impact Britain's sluggish economic growth. Such a scenario would challenge Prime Minister Keir Starmer's pledge to boost the UK economy, aiming for robust growth among the Group of Seven nations.

(With inputs from agencies.)