The UK government is drawing up a list of US products it could hit with retaliatory tariffs after President Donald Trump announced a wave of new import taxes.This is a toughening of the government’s stance as ministers seek to finalise a trade deal with the US.Business Secretary Jonathan Reynolds says he is consulting UK firms about the likely impact of the 10% tariffs being imposed on nearly all UK exports to the US and which products should be on the list.If UK negotiators can not agree a deal to reduce the 10% tariff by 1 May, the business secretary told MPs the government could impose retaliatory tariffs on US imports.Trump told the BBC he believed Prime Minister Sir Keir Starmer “was very happy on how we treated” the UK on tariffs.He told reporters he was open to negotiations on the tariffs if countries offered “something that is so phenomenal”.Speaking aboard Air Force One, Trump claimed “every country has called us” since his announcement on Wednesday. “That is the beauty of what we do, we put ourselves in the driver’s seat.”Earlier on Thursday, the UK government published a sample list of US goods that could face future tariffs. Being on the 417-page list does not necessarily mean a product will face tariffs, the government said.The list covers 27% of imports from the US – chosen because they would have a “more limited impact” on the UK economy, the Department for Business and Trade said.The products range from pure bred horses and children’s clothes to crude oil, firearms and bourbon whiskey.Reynolds says talks are ongoing with the US government to secure an economic deal aimed at avoiding or reducing tariffs.But he warned that the UK “reserves the right to take any action we deem necessary if a deal is not secured”.In the event of reaching a deal with the US, the consultation with businesses would be paused, he added. …
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[mwai_chat context=”Let’s have a discussion about this article:nnThe UK government is drawing up a list of US products it could hit with retaliatory tariffs after President Donald Trump announced a wave of new import taxes.This is a toughening of the government’s stance as ministers seek to finalise a trade deal with the US.Business Secretary Jonathan Reynolds says he is consulting UK firms about the likely impact of the 10% tariffs being imposed on nearly all UK exports to the US and which products should be on the list.If UK negotiators can not agree a deal to reduce the 10% tariff by 1 May, the business secretary told MPs the government could impose retaliatory tariffs on US imports.Trump told the BBC he believed Prime Minister Sir Keir Starmer “was very happy on how we treated” the UK on tariffs.He told reporters he was open to negotiations on the tariffs if countries offered “something that is so phenomenal”.Speaking aboard Air Force One, Trump claimed “every country has called us” since his announcement on Wednesday. “That is the beauty of what we do, we put ourselves in the driver’s seat.”Earlier on Thursday, the UK government published a sample list of US goods that could face future tariffs. Being on the 417-page list does not necessarily mean a product will face tariffs, the government said.The list covers 27% of imports from the US – chosen because they would have a “more limited impact” on the UK economy, the Department for Business and Trade said.The products range from pure bred horses and children’s clothes to crude oil, firearms and bourbon whiskey.Reynolds says talks are ongoing with the US government to secure an economic deal aimed at avoiding or reducing tariffs.But he warned that the UK “reserves the right to take any action we deem necessary if a deal is not secured”.In the event of reaching a deal with the US, the consultation with businesses would be paused, he added. …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
