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Britain is making one final attempt to avoid
Donald Trump
‘S most recent tariff move as
Rachel Reeves
maintains that trade with the US is already ‘balanced.’

Mr Trump has designated April 2 as ‘Liberation Day,’ pledging to enforce

‘Reciprocated’ duties balancing those imposed by every trade partner.

It seems that the primary focus of the president’s anger is the EU, as they erupted into fury claiming that the organization was established to ‘harm’ America.

Nonetheless, the UK might also face repercussions since Mr Trump has objected to VAT, arguing that it is unjust—despite it being a broad-based sales tax rather than one specifically targeting imports.

The UK presently has a 20 percent imposition.
VAT
On the majority of products and services.

The National Institute of Economic and Social Research (NIESR) had earlier projected that such tariff levels could reduce UK economic growth by 0.4 percentage points over the coming two years, which would amount to approximately £24 billion.

Keir Starmer
has already been unsuccessful in obtaining an exception from the US tariffs on steel imports, amid concerns about potential job losses.

This morning, before the Spring Statement, the Chancellor gave television interviews where he stated that Mr. Trump was correct to worry about uneven trade practices. However, he also contended that the UK is not responsible for this issue.

“I support unrestricted and transparent commerce. Under Donald Trump’s presidency as the leader of the United States, trade and investment exchanges between our nations expanded,” she stated during the BBC’s Sunday with Laura Kuenssberg program.

‘President Trump appropriately worries about nations that maintain significant and continuous trade surpluses with the United States.’

‘The UK isn’t among those nations; we maintain a balanced trade relationship with them.’

When asked about whether America would exempt Britain from the charges, Ms. Reeves referred to Keir Starmer’s recent trip to the White House.

She mentioned that the governments were attempting to negotiate a broader trade agreement aimed at addressing tariff issues.

“Let’s check. Our Prime Minister Keir Starmer had quite an effective meeting at the White House with President Trump a few weeks back… we’ll see how things develop over the coming days,” she stated.

Ms Reeves expressed her desire for ‘trade barriers to be reduced’ not only with the US but also with the EU.

The Chancellor declined to comment on whether the UK is planning to modify or abolish a levy on technology firms as part of an agreement aimed at preventing US tariffs.

She mentioned that they had talks ‘covering various topics’ with the US concerning tariffs.

We will keep adhering to the principle that taxes should be paid in the country where your operations take place.

Challenged about the possibility of adjusting the digital services tax, Ms. Reeves stated: “It’s crucial to strike the right balance, and these discussions are currently still in progress.”

We aim to advance. We strive to ensure that British exporters aren’t burdened with increased tariffs and hope to witness the reduction of trade barriers globally.

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