Britain Navigates Trade Turbulence Amidst U.S. Tariffs

Britain’s finance minister Rachel Reeves addressed parliament, discussing the implications of U.S. tariffs on global markets. She highlighted banks’ resilience and plans for a new U.S. trade deal. Reeves engaged in discussions with international counterparts to mitigate economic impact, emphasizing that Britain aims to reduce trade barriers.

Britain is navigating turbulent economic waters as the U.S. tariff programme raises global market concerns. Finance Minister Rachel Reeves assured parliament of banks' resilience and effective market functioning, following talks with the Bank of England.

Reeves plans to initiate a new economic partnership with the United States, intending to lower tariffs. She announced an upcoming meeting with U.S. Treasury Secretary Scott Bessent and ongoing discussions with other international finance leaders, including those from Canada and India, to secure trade deals.

In her parliamentary address, Reeves warned of the global economic implications of U.S. President Donald Trump's tariffs and emphasized Britain's commitment to avoiding additional trade barriers. Government decisions will prioritize fiscal stability.

(With inputs from agencies.)