There is a deal to be done with the US

Chancellor Rachel Reeves has told the BBC she understands what President Trump wants to address with his tariffs, ahead of talks with her US counterpart in Washington on Friday.

“We’re all grappling with this issue of tariffs but I think that there is an understanding… why President Trump wants to address some of the global imbalances there are in the system,” she told the BBC’s Economics Editor Faisal Islam.

She was also bullish about the UK’s prospects going forward, saying there was a “deal to be done”, as the UK does not have a trade surplus or deficit with US.