Rachel Reeves said that the UK’s business relationship with the EU is “undetectedly even more important” than that of the US.
Speaking in Washington, the British prime minister told the BBC she wanted to see a trade barrier with the US fall.
However, she also highlighted how hard the government is working to improve its economic ties with the EU.
“I understand why we are so focused on our business relationship with the US, but in reality, our business relationship with Europe is definitely even more important.
Like Bescent, Reeves said he had spoken with a series of European counterparts at the International Monetary Fund conference this week.
“I met French, German, Spanish, Poles and Swedish again this week. [and] Finland’s Minister of Finance – it is very important to restructure business relationships with the closest neighbors in Europe and we intend to do it in a good way for British jobs and British consumers,” she said.
The UK and the EU are holding a summit next month aimed at resetting the relationship between the two aspects, with Labour preparing to embrace some form of youth mobility scheme to attack transactions that can lower trade barriers.
The IMF managing director warmly welcomed the settlement between the UK and the EU during a panel event on Thursday, describing both sides as divorcees currently on dates.
Downing Street argued that Reeves’ statement was merely a statement of fact and not intended to minimize the weight that the UK places on its connection with the US.
“The EU is our biggest trading partner,” said 10. “It’s actually a matter of public records. Both are very important to us, and we treat both with enormous respect.”
Reeves this week expressed his willingness to cut UK tariffs on car imports, currently set at 10%, as British negotiators fought to secure Donald Trump’s 25% car tariff exemption, warning that British car manufacturers could lead to imminent unemployment.
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Speaking to US investors at a reception at the UK ambassador’s residence in Washington on Thursday evening, Reeves said he shared some of Washington’s concerns about the long-standing trade deficit.
The similarities between the frustration and Trump supporters who helped British voters support Kiel’s Stage in July last year, she said, “In this country, in my homeland last year, people voted for change.
“They voted for change because they didn’t think the economy would work well enough for them and their families. They saw the erosion of good jobs that paid decent wages. They saw the industry where the town once disappeared.
