Reeves says global trade should provide ‘security for working people’ as she prepares for UK-US trade talks
Rachel Reeves will tell foreign finance ministers that global trade should provide "security for working people" as she prepares for talks with her US counterpart.
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The Chancellor is in Washington for the International Monetary Fund's spring meeting of finance ministers from the G7 and G20, and is due to sit down with US Treasury secretary Scott Bessent on Friday.
She will tell attendees that they should "reduce barriers to trade" when she speaks at a debate on the future of the global economy on Thursday.
UK officials are trying to negotiate a deal with the Americans, in the hope that it could exempt Britain from some of Donald Trump's trade tariffs.
The Chancellor earlier told LBC that it is "important we get the right deal for Britain" as she dashed to Washington for top level meetings with Donald Trump's team, but said she won’t ‘rush it’.
The US president imposed a 10% import levy on goods earlier this month, as well as a 25% charge on steel, aluminium and cars. British car manufacturers have warned of potential job losses because of the tariffs.
Ms Reeves is expected to say on Thursday: "The world has changed and so must we.
"We are in a new era of global trade, and in that new era we need a system that provides security for working people, stability for businesses, and prosperity for national economies."
She will add: "To deliver this, we need to do three things: tackle excessive global trade imbalances, reduce barriers to trade, and promote strong multilateral institutions."
Earlier in her trip, the Chancellor insisted that there was "a deal to be done" between London and Washington, but also appeared to rule out at least some changes the US is thought to be seeking.
She will be keen to offset the 10% tariffs on British goods, which are widely expected to slow down the economy.
The Chancellor told LBC from Washington: "I'm confident that there is a deal to be done between the UK and the US.
"It's very clear, I'm in the US now, that the US administration as well want to do a deal with the UK, but it's important that we get the right deal for Britain, that we don't rush into a deal, but we do the right deal in our British national interest.
"I recognise the huge challenges that businesses, including in the automotive sector, are facing at the moment, which is why, as a government, we announced more flexibilities for our car manufacturers on the shift to electric vehicles to better support them through these challenging times.
"It's also why we are working as hard as we can to get a deal with the United States, a deal that is in our country's national interest."
But agricultural imports are thought to be a potential sticking point for a trade deal, with some US exports not meeting UK food standards.
The Chancellor also appeared to rule out changes to the Online Safety Act, which some US politicians regard as restricting free speech, telling Sky News: "We've just passed the Online Safety Act and the safety, particularly of our children, is non-negotiable for the British Government."