Investing.com -- The United Kingdom (TADAWUL:4280)'s Trade Secretary, Jonathan Reynolds, has voiced confidence in reducing the recent 10% tariff imposed on UK exports by the United States as officials are engaged in discussions with the White House seeking a deal to strengthen the economic ties between the two nations.
Reynolds expressed his belief that the US tariffs could potentially be reduced or eliminated during a Thursday morning interview with Bloomberg TV. He disclosed that he had spoken to US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer earlier in the day.
This conversation took place shortly after President Trump introduced comprehensive tariffs on all countries, causing a stir in the global trading system.
Reynolds emphasized the importance of the relationship established between the UK and the US, stating it allows for serious discussions about a beneficial way forward for both nations. He also highlighted the significant role the UK Prime Minister Keir Starmer has played in building a rapport with the US President.
Starmer warned of economic impact from the new US tariffs but vowed to respond with "cool and calm heads," emphasizing that Britain is prepared to protect its economy while continuing negotiations with Washington.
Reynolds also expressed satisfaction with the UK's positioning among the affected countries but emphasized the ongoing efforts to negotiate a trade deal that would eliminate the need for tariffs and further solidify the existing relationship. He confirmed that this remains the central focus of their work in the UK.