UK Chancellor Rachel Reeves has expressed her commitment to working closely with President-elect Donald Trump to strengthen trade relations, emphasizing the significance of free and open trade with the U.S., which is the UK's primary market for financial services.

During her inaugural Mansion House event, Reeves reiterated her dedication to prioritizing national economic interests, particularly in light of potential tariff threats from the incoming U.S. administration. Trump's proposed tariffs, which could impose a flat rate of up to 20% on all U.S. imports and 60% on goods from China, have raised concerns among analysts who warn of the potential impact on the UK economy.

In response, Reeves has voiced her opposition to new tariffs and her intention to advocate for free trade during her upcoming participation in the Eurogroup meeting of finance ministers in Brussels. While reaffirming that the UK will not reverse Brexit, Reeves emphasized the need to reset the relationship with the EU in the face of ongoing geopolitical uncertainties and structural challenges. Her remarks demonstrate a proactive approach to navigating the evolving global trade landscape and maintaining the UK's economic stability.