USA looks UK in ‘Different Lights’ on Trade, says British Minister

A container ship is anchored next to cranes in UK’s largest container port Felixstowe in Felixstowe, UK, August 22, 2022. – Reuters

The United States consider trading tapes with Britain “in another light” because it does not have a large deficit with the country, but difficult questions are back on customs, a senior British cabinet minister said on Sunday.

Since returning to power, President Donald Trump has sent shockwaves through global capitals by threatening or introducing high tariffs on imported goods in the United States as part of his trade policy audit.

Business Secretary Jonathan Reynolds told the TV stations Britain had a balanced trade relationship with the United States, and he reported “good commitment, good conversations” in his meetings with the Trump administration on the question.

“They see us in a different light. It doesn’t mean it will be ordinary sailing for us. We have some difficult things to agree on, but they recognize that the relationship is different,” Reynolds said.

Last week, Reynolds said Britain would try to persuade the US government that its steel and aluminum products should avoid tariffs because of the sensitive role they play in the US defense sector and its production supply chains.

Trump said on Sunday he would introduce new 25% tariff rates on all steel and aluminum import to the United States at the top of existing metal tasks. He said earlier in February when he talked about duty in general that he thought something could be “prepared” with the UK.

Both countries report profits with each other – including goods and services – due to measurement differences, according to the UK’s National Statistics Office.

British Prime Minister Keir Stormer hopes this will work to his advantage by avoiding customs.

Reynolds said he had talked about the trade relationship with Mark Burnett, Trump’s special envoy to Britain, and Kevin Hassett, the president’s top financial adviser.

Britain published a major consultation for its steel industry on Sunday, weeks prior to the plan due to Trump’s announcement of fresh tariffs on steel import to the United States.

Trump has said his sweeping tariffs will smooth the rules of the game for US goods abroad and revive a falling US production base. They have also sowed confusion among companies and annoyed long -term American allies.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top