Speaking ahead of the expected announcement of tariffs byUS President Donald Trump, Reynolds said the UK government believes thefoundation for an economic partnership is already in place. “I believe that theframework of an agreement is certainly in place,” he told the BBC. “We couldsign heads of terms on that, and then talk about the detail over a specifictimescale that would be to the US’s satisfaction going forward.”
Prime Minister Keir Starmer also indicated that talkswith the US are “well advanced.”
Certain areas, however, remain off the table. Reynoldssaid issues such as food standards would not be part of any agreement. He addedthat while the UK prefers a negotiated resolution, and “the longer we don’thave a potential agreement, the more those things will be considered.”
Since returning to office in January 2025, Trump hasreintroduced broad tariffs as part of his trade agenda. His administrationimposed levies on imports from Mexico, Canada, and China, citing concerns overtrade imbalances, border security, and fentanyl trafficking. In March, thosetariffs were expanded, with rates on Chinese goods raised to 20% and mostCanadian and Mexican imports taxed at 25%, prompting countries to vowretaliatory action.
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