UK Does Not Want to ’Escalate’ Donald Trump’s Trade Wars

By Staff, Agencies

Chancellor of the Exchequer Rachel Reeves has said the UK does not want to "escalate" US President Donald Trump's trade wars after the latter slapped a new 25% tariff on all imported cars, Sky News reports. 

Trump signed an executive order last night for the tax to kick in on 2 April - what he has called "liberation day".

But speaking to Wilfred Frost on Sky News Breakfast, the chancellor sought to diffuse the looming conflict when asked if the UK intended to respond.

She said: "We're not at the moment in a position where we want to do anything to escalate these trade wars.

"Trade wars are no good for anyone. It will end up with higher prices for consumers pushing up inflation after we've worked so hard to get a grip of inflation, and at the same time, will make it harder for British companies to export.

"So look, we are looking to secure a better trading relationship with the United States. I recognise that the week ahead is important.

"There are further talks going on today, so let's see where we get to in the next few days."