{"id":289934,"date":"2025-06-12T22:40:34","date_gmt":"2025-06-12T22:40:34","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/minister-warns-about-strength-of-us-feeling-towards-tariffs\/"},"modified":"2025-06-12T22:40:34","modified_gmt":"2025-06-12T22:40:34","slug":"minister-warns-about-strength-of-us-feeling-towards-tariffs","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=289934","title":{"rendered":"Minister Warns About Strength Of US Feeling Towards Tariffs"},"content":{"rendered":"


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The US\u2019s stance on trade would be unlikely to change even if a Democrat<\/a> were elected to the White House, a minister has warned.<\/p>\n<\/div>\n

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The US president imposed a 10% tax on British imports<\/a> to the States in April, on top of a global 25% levy on aluminium, steel and cars.<\/p>\n<\/div>\n

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Other countries received higher \u201creciprocal\u201d tariffs initially, rocking worldwide trade, although Trump did end up reducing the majority to 10%.<\/p>\n<\/div>\n

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The UK became the first nation to agree to a trade deal with the States to reduce the tariffs earlier this year.<\/p>\n<\/div>\n

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The two sides agreed to cut British steel and aluminum levies to zero and cut the car taxes to 10% \u2013 for up to 100,000 \u2013 although it is yet to be finalised. <\/p>\n<\/div>\n

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Britain also secured a temporary exemption when Trump doubled its import tariffs on steel and aluminium to 50%, until July 9, depending on the progress of the trade deal.<\/p>\n<\/div>\n

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Even so, the tariffs have undoubtedly hit the British economy. <\/p>\n<\/div>\n

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The Office for National Statistics<\/a> revealed on Thursday that gross domestic product (GDP) had declined by 0.3% in April, primarily due to the tariffs and the higher taxes imposed by the British Treasury.<\/p>\n<\/div>\n

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But at a press gallery lunch with reporters on Thursday, trade and business secretary Jonathan Reynolds suggested these tariffs are not just a product of Trump\u2019s administration.<\/p>\n<\/div>\n

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He said it was time for Europe to \u201cunderstand how the US feels\u201d about the \u201clack of reciprocity\u201d with trade.<\/p>\n<\/div>\n

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\u201cThe US trade deal \u2013 there have been some hard bits of negotiating that,\u201d Reynolds said, after saying he expects the final agreement to be finalised \u201cvery soon\u201d.<\/p>\n<\/div>\n

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\u201cThe US agenda is very significant, but we have always sought to recognise how the US feels about this.<\/p>\n<\/div>\n

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\u201cI said to an audience of European colleagues last week in Brussels, this, we have to understand, in Europe, is not US politics disrupting global trade.<\/p>\n<\/div>\n

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\u201cThis is how global trade has disrupted US politics.<\/p>\n<\/div>\n

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\u201cI don\u2019t think the kind of US agenda we see on trade would change overnight, if it was the end of the presidential term and someone else came in \u2013 even if it was Democratic president.<\/p>\n<\/div>\n

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\u201cUnderstand how the US feels about this, the lack of reciprocity, about some grievances, about how some multi-lateral bodies work.<\/p>\n<\/div>\n

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\u201cWe might have different views but we have to engage, be willing to engage with them as well as build some personal relationships. That has been why we\u2019ve been able to do a bit more than some others.\u201d<\/p>\n<\/div>\n

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There are hopes the US-UK trade deal will get over the line soon.<\/p>\n<\/div>\n

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Reynolds met the US commerce secretary Howard Lutnik with PM Keir Starmer this week in London, and the UK ambassador to the States Peter Mandelson met with Trump in the White House.<\/p>\n<\/div>\n

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The business secretary also told reporters it had been a \u201cvery significant\u201d week in relation to the agreement.<\/p>\n<\/div>\n<\/div>\n