Rachel Reeves has made a remarkable proposal to applaud Donald Trump in a clear offer to ensure the British -US trade agreement.
In a conversation with finance leaders on a trip to Washington, DC, the Chancellor calls for a bold to a new global business system that reforms “over -balance” between different countries and business blocks.
His remarks are a direct attempt to deal with issues raised by President Trump during the launch of widespread global tariffs earlier this month, which sends shock waves through stock exchange before a 90 -day pause.
Speaking at a biennial meeting of the IMF on Thursday, Ms. Reeves said: “I am proud that England has worldwide and open reputation and this is the one I want to strengthen.
“But the world has changed and we have to. We are in a new era of world trade. And in that new era, we need a system that provides the security of employees, stability for jobs and happiness for national economies.”
“To do this, we have to do three things: to counter world trade imbalances, reduce barriers to trade and promote strong multilateral institutions,” he said.
During a panel discussion of the future of the global economy on Thursday evening, Ms. Reeves said that the United States has a “point” that world trade is overly unbalanced, but “it is important where everything is made and who makes them”.
“In my country and the United States and many other developed countries, the system has been felt that today’s system is offering some, but not for everyone in certain sectors of the economy,” the Chancellor said.
However, he said he acknowledged where the goods were made.
“We cannot be agantic or naive to that, especially in the world where we live today where resistance and security are more important than they have done for a long time,” he said.
The CEO of International Monetary Fund Cristalina Georgia praised Ms. Reeves’ efforts to “boost growth in the UK” during the discussion.
“She is dealing with very difficult issues, again than the costs, getting more rational and then doing the battle to do it, and that’s really impressive,” said Ms. Georgia.
The UK was at the bottom of Mr Trump’s threatened tariffs – 10 % instead of 20 % of the EU export – despite the United States had a surplus of trade with Britain.
However, there are fears that they can spend thousands of jobs for the British economy, especially in the automotive industry, which will hit 25 % tariffs.
President Trump used US trade deficit with countries around the world as a reason to impose tariffs, which now threatens the global economy.
But Britain is trying to make a business deal with the Trump administration before the 90 -day pause in early July.
Ms. Reeves hopes that her suggestions will help create a world trade system that will provide security for employees, stability for jobs, and prosperity for national economies in the world that has changed.
To advance the reform attempts, the Chancellor will hold the Reforms with his counterparts in Washington before the upcoming G7 and the International Monetary Fund.
He is scheduled to meet Trump with Scott Bosent, the US Treasury Secretary, and hopes to help this trade transaction from this line.
Currently, the UK has announced that it is reducing US car tariffs from 10 % to 2.5 percent to the UK and reducing the proposed digital service tax.
Earlier, Ms. Reeves said: “The government is holding a moment to protect fair and free trade. Following recent announcements that reduce tariffs and support zero vehicles, today’s package helps jobs compete with international exporters and supports the global economy that provides stability and justice.”
