UK chancellor Rachel Reeves on Friday held her first formal talks with US Treasury secretary Scott Bessent, with both finance ministers agreeing that there was a “landing zone” for a bilateral trade deal, according to British officials.
Reeves has opened the door to Britain cutting its tariffs on imports of US-made cars, along with agricultural and seafood products, as she tries to persuade the Trump administration to cut its levies on UK exports.
Bessent is seen inside the Starmer government as a relatively dovish figure on tariffs, but there is an acknowledgment that trade decisions are ultimately taken in the Oval Office. The US has imposed a 10 per cent baseline tariff on UK exports and a 25 per cent levy on cars and steel.
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