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JD Vance said the US is trying to ensure a ‘big’ trading transaction with the UK, as Donald Trump’s rates increase global trading tension.
The Vice President said that Mr. Trump ‘very hard work’ to an agreement with Britain that can be reduced or lifted the damages.
His remarks are a boost for Sir Keir Starmer and Rachel Reeves, with the trade war of Mr. Trump who threatens to eradicate economic growth and delay labor in the autumn budget in further cuts or tax increases.
This comes after senior Trump advisor Kevin Hassett said last week that the transactions with two countries, which are believed to be the UK and Australia, are near.
British officials fear that a 10 percent universal rate charged by the US president could be a permanent function under his administration. But they hope that a trade agreement can be lifted or cut the 25 percent rates on steel, aluminum and car imports.
President Trump’s initial livestock tariffs have caused worldwide economic problems and declines of the stock market.
However, subsequent adjustments saw that the tariff rates for most countries were reduced to 10 percent, with further exemptions for electronics such as smartphones and laptops, even those imported from China, which had a 145 percent levy.
Officials in Sir Keir’s government hoped to obtain a cut off before Mr. Trump has been established, and the discussions have continued since the measures came into effect.
In an interview with Unherd, Vice President Vance expressed optimism about achieving an agreement. He said the US works ‘very hard’ with the UK on negotiations.
“We are definitely working very hard with Keir Starmer’s government,” Mr. Vance said.
‘The president loves the UK. He loved the queen. He admires and loves the king. This is a very important relationship. And he is a businessman and has a number of important business relations in [Britain]. But I think it’s much deeper than that.
‘There is a real cultural affinity. And of course America is an Anglo country.
“I think there is a good chance that we, yes, we will come to a good deal that is in the best interests of both countries.”
Mr Vance said the “reciprocal relationship” between the US and the United Kingdom has given Britain a more beneficial position than other European countries when it comes to negotiating new trade arrangements, adding: “While we love the Germans, they are very dependent on exports to the United States, but are very difficult for many US businesses who would like to export to Germany.”
Ms Reeves will strive to continue negotiations on an economic agreement with the US later this month when she travels to Washington to attend the Spring Meetings of the International Monetary Fund with other finance ministers.
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