Rachel Reeves vows to 'meet the moment' ahead of crunch US tariff talks

Rachel Reeves today vows to "rise to meet the moment" as she heads to make-or break trade talks in Washington DC.

The Chancellor will argue for steep tariffs imposed by to be lifted or reduced. Ms Reeves will meet her US counterpart Scott Bessent for the first time in person as the duo try to hammer out a crucial trade agreement.

But Ms Reeves has said the UK will walk away if the deal on offer is not in the national interest. She said: “The has changed, and we are in a new era of global trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

“This changing world is unsettling for families who are worried about the cost of living and businesses concerned about what tariffs will means for them. But our task as a government is not to be knocked off course or to take rash action which risks undermining people’s security.

“Instead, we must rise to meet the moment and I will always act to defend British interests as part of our Plan for Change." The White House has sent shockwaves through UK industry after imposing 25% tariffs on steel and cars, and 10% on all other goods.

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Ms Reeves will call on leaders at the International Monetary Fund (IMF) spring meetings to stop putting up trade barriers. She said: "We need a world economy that provides stability and fairness for businesses wanting to invest and trade, more trade and global partnerships between nations with shared interests, and security for working people who want to get on with their lives.”

Last week Ms Reeves said the Government's red lines in trade talks will include farming standards and online safety. In an interview with The last week she said she is prepared to walk away if these are crossed.

Ms Reeves will also urge her counterparts around the world not to escalate trade barriers. She said: "A trade war is in no one's interest. It will make all of us poorer. It will push up prices around the world. And that's no good for working people in Britain, or indeed in any country around the world."

On top of talks with Mr Bessent, Ms Reeves will hold discussions with finance ministers from around the world about opportunities to strengthen economic ties with Britain.

She told The Mirror: " L ast week in the UK I hosted my Indian counterpart for an economic and financial dialogue. And we're looking to secure a free trade agreement and an investment treaty with India, one of the fastest growing countries in the world.

"We also want to, improve our trading relationship with countries in the because for small businesses, especially at the moment, it's incredibly bureaucratic and cumbersome to be able to export.

"So we want to see great British companies exporting around the world taking advantage of those global markets. But at the same time, in Britain, we need to do more to protect our, security and resilience as an economy."

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