UK's Reeves to tout benefits of free trade amid fears of US tariffs
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UK Chancellor Rachel Reeves will deliver a keynote speech on November 14, 2024, at the Mansion House, promoting free trade and economic growth while addressing concerns over potential US tariffs under President-elect Donald Trump. Reeves emphasizes the importance of free and open trade for national wealth, warning against Trump's proposed tariffs of up to 20% on imports. She aims to foster partnerships with the financial services sector and reform pensions to unlock investments. The UK-US trade relationship, valued at over £300 million (US$387 million) annually, is crucial, but Trump's protectionist policies may complicate it. Reeves faces pressure from over 200 hospitality sector leaders regarding tax increases, which they argue could lead to job cuts and business closures. She will advocate for long-term stability through tough tax choices despite forecasts of modest economic growth amid a £40 billion tax rise.
#Uk #FreeTrade #UsTariffs #RachelReeves #DonaldTrump #EconomicGrowth #LabourParty #TaxPolicy #FinancialServices #HospitalitySector
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