United States President Donald Trump inspects a Honor Guard at the Buckingham Palace on June 3, 2019 in London, England.
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The UK’s business secretary, Jonathan Reynolds, said that the country faces a « threat » for its open economy from any global bankruptcy of the new Trump’s rate regime, which included a 10% reference line of « reciprocal » rate about British property exported to states.
The United Kingdom has escaped relatively unscathed compared to many other nations, in the face of the lowest commercial rate announced by President Trump on Wednesday, Thanks to its largely balanced trade of goods with the states.
The commercial deficits that the United States lead with many commercial partners were largely used by the White House to calculate what level of rate should be imposed on specific countries or territories.
Recognizing that the United Kingdom was in a better position than many countries, Reynolds said that Britain was vulnerable to the crisis in other parts of the world affected by higher rates, such as the EU, which will have an amount of 20% in its goods exported to the United States.
« Everything that disrupts the global commercial system is a threat to the United Kingdom because we are a much more world -class commercial economy than some partners, » said Jonathan Reynolds on Times Radio on Thursday, according to Reuters.
He said that the Government would continue to work to reach a trade agreement with the Trump administration and hoped to reverse the rates. Did not rule out the counter-mesters « if we need it. »
The United Kingdom expected to leave the Trump’s relatively unsuspecting rate regime compared to other United States commercial partners, given the most balanced negotiation relationship between the two nations when it comes to import and exports of goods.
One of the Long Bugbear Trump has been the United States’s commercial deficits with its neighbors and competitors, such as Canada, China, Mexico and the European Union.
The United Kingdom is already subject to a 25% rate to steel and aluminum imports Trump announced in February, along with 25% of duty in « all cars that are not manufactured in the United States. » The latter Levy came into force on Wednesday.
Keir Starmer, British Prime Minister, at Downing Street in London on March 31, 2025.
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Faced with the rates, Britain had hoped to agree with the White House to avoid new features, but the Prime Minister of the United Kingdom, Keir Starmer, tried to temper expectations by saying that the rates were still likely.
Starmer said that Britain continued to work on an economic agreement with the United States, and that « quick progress » has been made, but it was warned that an agreement could take time.
« I don’t think anyone wants to see rates, » Starmer told sky news On Monday. « We are working hard on an economic agreement in which we have advanced rapidly and I hope we can make really fast resolutions, » he said.
« The probability is that there are rates. No one welcomes this. We are obviously working with the most affected sectors at the pace. No one wants to see a trade war. But I have to act in national interest, which means that all options must remain on the table, » he added.
United Kingdom Commercial Secretary Jonathan Reynolds insisted on the BBC on Tuesday that ongoing talks with Trump administration meant Britain was in the « best possible position of any country » to reverse commercial functions.
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