Government wants to ‘go further’ with US trading relationship

Sunday 11 Might 2025 12:27 pm
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Sunday 11 Might 2025 12:28 pm

The federal government needs “to go additional when it comes to the buying and selling relationship with the US”, the Residence Secretary has stated, as an American economist warned the deal struck with Donald Trump this week “isn’t definitely worth the paper it’s written on”.

Joseph Stiglitz advised Sky Information that had the UK labored with the EU on a deal, “you possibly can have completed higher than what you’ve completed”.

On Friday, Donald Trump’s press secretary insisted the president will stand agency on the blanket 10 per cent tariff on most UK imports into the US, telling reporters he’s “dedicated” to the levy.

It got here after Thursday’s deal which minimize taxes on automobile imports of 100,000 a 12 months from 27.5 per cent to 10 per cent, and likewise decreased tariffs on metal and aluminium by way of quotas.

Requested whether or not Trump is taking the UK for a experience, Cooper pressed the significance of the deal for automobile producers resembling Jaguar Land Rover.

“Clearly we wish to go additional when it comes to the buying and selling relationship with the US,” she advised Sky Information’ Sunday Morning with Trevor Phillips.

“We’re an outward-looking buying and selling nation, so commerce is necessary,” she stated, as she declined to get right into a “operating commentary” on discussions with the EU.

Chatting with the identical programme, Stiglitz stated that “any settlement with Trump isn’t definitely worth the paper it’s written on” .

Requested whether or not the UK ought to deal with constructing its relationship with the EU, the economist stated “very a lot so”.

He added: “My view is that if you happen to had labored with the EU to get a great deal you possibly can have completed higher than what you’ve completed.”

The shadow residence secretary stated it’s “good that the horrible punitive tariffs” have been eased, however described this week’s settlement as “a really slim deal”.

“What was agreed final week shouldn’t be a complete commerce deal,” Chris Philp advised the identical Sky Information present.

“[It] is a really slim deal, speaking primarily about tariffs.

“Whereas it’s good that the horrible punitive tariffs which have been in place for just a few weeks have been eased, because the Governor of the Financial institution of England Andrew Bailey stated, the extent of tariffs that at the moment are being charged on UK exports going into America are greater beneath this new deal, so-called deal, than they had been in the beginning of the 12 months.”

By Caitlin Doherty and Jordan Reynolds, PA