TRUMP TARIFFS ‘DISAPPOINTING’ AND UNNECESSARY, SAYS BUSINESS SECRETARY
THE imposition of new tariffs on the UK by President Trump is disappointing and unnecessary, according to the Business Secretary Jonathan Reynolds.
He told GB News: “Of course it’s disappointing, because there is no need for these tariffs to be put in place.
“We’ve got a very strong, very fair, very balanced trading relationship with the US. The kind of complaints the US has had about the deficit in goods it’s got with the EU or with the Chinese, we don’t have that, so we’ve got the basis for that.
“I would have wanted to have had that agreement in place so we weren’t subject to this. But no country in the world has got that. You’re right to say we’re in the more favourable basket of countries, but we still got to be disappointed.
“It’s not job done just because we’re better off than other people. My work will continue to make sure we get an agreement in place…that would not only remove what has been announced, but not just go back to where we were, actually make that relationship even stronger.
“I think there’s more we can do so UK companies have more market access to the US. That’s what I wanted. That’s what we’re going to continue to work towards in the weeks and months ahead.”
Asked if it was correct that the UK charges 10% on US goods, he said: “No, I would say that’s not accurate. The average tariff the UK has on US goods is broadly 4%, it’s up and down for some other things.
“Their tariff on us is broadly about 5%…you’re right to say they consider things like the different food standards regime we have in the UK as being a barrier.
“Our approach has been to say, all right, well, let’s hear the case. Let’s talk about it. Let’s engage on it. Let’s find the things we can agree on. Find common ground. You can always do that. You can always do that in any trade negotiation.
“I think we found a lot of it. I think we’ve got the basis for genuinely a stronger relationship that we could have going forward. We’ve got to continue to work towards that.
“And the very strong message I get from British businesses, this calm-headed approach, not jumping to conclusions or threats or things that we might do to them, this calm-headed approach. Don’t rule anything out, but stay around the table while there is the chance of delivering upon that deal.”
He added: “I can’t give you a timescale, because a lot of that is in the gift of the president of the United States. But on this point about what’s a strong response, a strong response is a one that is in the UK’s national interest, and our national interest is in doing a deal with the US to remove these pressures and strengthen that relationship that’s not available to every country in the world.
“They haven’t got the same relationship with the US. They’re not as perhaps as strong as an ally as we are, or they’re not in a position where their trading relationship is as fair as ours is, so it’s not about being passive or not being strong.
“Strength comes from doing what is right for you, right for your people, right for your business and workers and industry. That is what the UK Government is doing. And I very strongly believe that approach is backed by UK business.”
