UK Makes Final Stand Against Trump’s &quot;Liberation Day&quot; Tariffs

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Britain is making one final attempt to avoid Donald Trump 'S latest tariff move as Rachel Reeves maintains that trade with the US is already 'equitable.'

Mr Trump has designated April 2 as 'Liberation Day,' pledging to enforce 'mutual' duties compensating for those imposed by every trade partner.

It seems that the primary focus of the president’s anger is the EU, as they have erupted over claims that the organization was established to ‘hurt’ America.

Nevertheless, the UK might still be affected since Mr. Trump has objected to VAT, arguing that it is unjust—despite the fact that it is a broad-based sales tax rather than one specifically targeting imports.

The United Kingdom presently has a 20 percent imposition. VAT On the majority of products and services.

The National Institute of Economic and Social Research (NIESR) had earlier projected that such tariff levels could reduce the UK's economic growth by 0.4 percentage points over the coming two years – which would amount to approximately £24 billion.

Keir Starmer has already been unsuccessful in obtaining an exception from the US tariffs on steel imports, amid concerns about potential job losses.

This morning, before the Spring Statement, the Chancellor gave television interviews where he stated that Mr. Trump was correct to worry about imbalanced trade practices. However, he also maintained that the UK is not responsible for these issues.

"I support unrestricted and transparent commerce. During Donald Trump’s presidency, trade and investments between our nations increased," she stated in an interview for the BBC's Sunday with Laura Kuenssberg program.

'President Trump appropriately focuses on nations that maintain significant and ongoing trade surpluses with the United States.'

'The UK isn’t among those nations; we maintain a balanced trade relationship with them.'

When asked about whether America would exempt Britain from the charges, Ms. Reeves referred to Keir Starmer's recent trip to the White House.

She mentioned that the governments were attempting to negotiate a broader trade agreement aimed at addressing tariff issues.

"Let's check. Prime Minister Keir Starmer recently had a quite productive meeting at the White House with President Trump a few weeks back... we'll see how things develop over the coming days," she stated.

Mrs. Reeves expressed her desire for reducing barriers to trade not only with the United States but also with the European Union.

The Chancellor declined to comment on whether the UK is planning to modify or abolish a levy on technology firms as part of an agreement aimed at preventing US tariffs.

She mentioned that they had talks about various topics with the US concerning tariffs.

We will persist with the belief that taxes ought to be paid in the nation where your business activities take place.

Challenged if she might tweak the digital services tax, Ms Reeves said: 'You've got to get the balance right and those discussions at the moment are ongoing.

We aim to advance. We strive to prevent British exporters from facing increased tariffs and wish to observe the reduction of trade barriers globally.