.jpg)
4 hours ago
1
Article content
(Bloomberg) — UK Chancellor of the Exchequer Rachel Reeves will hold talks with US Treasury Secretary Scott Bessent this week, as the two countries continue to finalize the details of an agreement to cut tariffs imposed by President Donald Trump’s administration.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
The two are set to speak on the sidelines of the Group of Seven finance ministers’ meeting in Banff, Canada, beginning on Wednesday. It will be Reeves’s first in-person discussion with her American counterpart since Britain and the US announced the outline for a trade deal earlier this month.
Article content
Article content
The pact was hailed by Trump as “full and comprehensive” despite only covering a limited number of sectors and leaving the US’s 10% baseline tariff on goods untouched. It included carve-outs for Britain’s auto and steel industries, which face 25% US sectoral tariffs that sparked warnings of job losses.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
However, the agreement didn’t specify when the tariff reductions would come into force, nor give key details such as the size of a quota for UK steel exports and the nature of US security requirements regarding ownership of British steel plants.
Article content
The UK’s vehicle and steel sectors welcomed news of the US accord at the time, but are still in the dark on when the tariffs might be reduced.
Article content
“The government is laser-focused on delivering for the British people,” Reeves said in a statement. “The world is changing, but we have shown in recent weeks that Britain is a strong economy that can navigate that change.”
Article content
Prime Minister Keir Starmer’s government is trying to show voters that it’s delivering on its key pledge to lift the UK economy after years of stagnant growth, but Trump’s global tariff war has threatened to blow that project off course. Britain’s response has been to seek deeper economic ties with other allies, including signing a trade deal with India and announcing a closer relationship with the European Union.
Article content
The deals with Washington, Brussels and New Delhi “will kick-start economic growth and put more money in people’s pockets,” Reeves said in the statement. “We are once again a nation that is open for business.”
Article content
—With assistance from Zoe Schneeweiss.
Article content
English (US)