Two concessions the UK is considering to secure a U.S. trade deal
Rachel Reeves believes US wants to make a trade deal with the UK
UK Chancellor Rachel Reeves has signalled a willingness to lower tariffs on US car imports to 2.5 per cent from 10 per cent in pursuit of a trade deal with the U.S.
This potential concession comes amid pressure to secure a deal before U.S. tariffs are implemented and follows reports of the UK possibly also shelving a planned digital services tax.
Reeves emphasised the importance of a deal being in the UK's national interest and expressed confidence in the relationship between Prime Minister Keir Starmer and President Trump.
The IMF warned that U.S. tariffs could lead to the UK having the highest inflation in the West and downgraded the UK's growth forecast.
Reeves is also engaged in discussions with the EU regarding a Brexit reset, with a possible compromise on a youth mobility scheme being considered.