UK open to lowering tariffs on US goods to secure Donald Trump trade deal

The UK is open to lowering tariffs on US goods to seal a trade deal with , has signalled.

The Chancellor said Mr Trump is "keen" to forge an agreement with the UK to ease the impact of sweeping tariffs on British goods. Speaking on a visit to Washington, she said there were tariffs “both ways”, adding: “I would like to see those tariffs and non-tariff barriers reduced.”

It comes amid reports the US is pushing for British tariffs on American cars to be slashed from 10% to 2.5%. The Trump administration is also keen for the UK to relax rules on US agricultural imports, such as beef, according to the Wall Street Journal.

Ms Reeves said: "I think that there can be a bilateral process between our two countries to remove those remaining trade barriers that do exist, and if we work on that basis there is a deal to be done that will benefit industry both in the UK and the US and jobs in our countries as well."

READ MORE:

Pressed on reports on the lowering of tariffs on US vehicles, she told the : "I want to see tariff and non-tariff barriers reduced between the UK and the US, but also with other countries around the .

"It's why, for example, we are having a summit between the UK and the EU next month to try and make it easier for British businesses to export to our nearest neighbours and trading partners in Europe.

"It's why we are in negotiations with the Indian government on a trade and investment partnership between our countries.

"I believe in free trade, but I also believe it needs to be fair trade, and that's where the US do have an important point around some of the global imbalances that have built up over decades that we do need to address."

But she denied the UK would water down its agricultural standards, which could pave the way for US beef hormone-treated beef and chlorine-washed chicken. She said: "We have high standards to support British farming and support British consumers, and we're not going to be relaxing those standards."

The Chancellor said that a potential deal would also look at , and build on security and defence cooperation. "This isn't just about damage limitation, it's also about what the next step is," she said in a separate interview.

Ms Reeves is using a visit to the International Monetary Fund's (IMF) spring meetings in Washington to push for a deal to lessen the impact of tariffs on British firms. She is expected to hold her first face-to-face talks with US counterpart Scott Bessant on Friday.

Ahead of the meeting, she said: "What we hear from the US administration is that they are keen to do a deal with the UK, reflecting the closeness of that relationship."

Ms Reeves also announced plans to protect high street firms from being undercut by cheap imports. Rules allowing foreign retailers to sell goods worth less than £135 without paying customs duty will be reviewed to protect British businesses.

Retailers like Next and Sainsburys had complained that foreign companies like Temu and Shein were able to undercut them with cheap goods. It comes amid concern that Donald Trump's swingeing tariffs could mean goods from countries like could swamp UK markets.

Under the plans, rules around "low value imports" will be reviewed and the Trade Remedies Authority(TRA) will beef up help for British businesses to report unfair practices such as "dumping" - where goods are sold into the UK at below-market prices.

Ms Reeves said: "Today's package will help businesses compete fairly with international exporters, supporting a world economy that provides stability and fairness for working people and businesses alike."

Helen Dickinson, chief executive of the British Retail Consortium (BRC), said: "A review of this policy, which was designed to reduce the burden on low volume, low value imports, was already needed. With retailers seeing a rise in the number of potentially non-compliant products entering the UK market, it's even more critical now."

READ MORE: