Yesterday at 22:20
The United Kingdom remains hopeful that any tariffs imposed by US President Donald Trump will soon be lifted if both sides can agree on the framework of a new economic partnership.
This was stated by UK Business Minister Jonathan Reynolds, as reported by Reuters.
The business minister noted that Trump now appears to want to impose tariffs on every country before negotiating individual exemptions.
He expressed hope that these tariffs, set to be announced on Wednesday, April 2, will be lifted once both sides agree on the terms.
“I believe the framework of an agreement certainly exists. We could sign off on the key provisions and then negotiate the details within a timeframe that satisfies the US in the future,” he said.
Reynolds emphasized that whether the US is willing to negotiate with other countries is ultimately their decision.
“But I believe the work we have done has made this possible,” he added.
It is worth noting that the UK’s Office for Budget Responsibility recently reported that if Trump follows through on his threats to introduce new global tariffs, the British economy could shrink by 1%.
On March 31, a spokesperson for the UK Prime Minister stated that the country expects Trump’s planned global tariffs this week to negatively impact the UK, and the government is preparing for all possible scenarios.
As is known, Trump has promised to unveil a sweeping tariff plan on April 2, which he has dubbed “Liberation Day”, emphasizing that the tariffs will bring jobs back to the US and generate trillions of dollars in new revenue for the federal budget.
He stressed that these tariffs will apply to all countries.
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