Reeves, Bessent Discuss UK-US Trade Deal Amid EU Focus

British Finance Minister Rachel Reeves and U.S. Treasury Secretary Scott Bessent met in Washington to discuss a potential UK-U.S. 'economic prosperity deal,' with both sides acknowledging that there is a possible 'landing zone' for a bilateral trade agreement, though talks remain ongoing. Reeves expressed that while the U.S. is Britain's single largest trading partner, strengthening ties with the European Union remains a higher priority for the UK due to the EU's significance as a trading bloc. The discussions, which took place during IMF and World Bank meetings, were described as positive, with the U.S. pushing for lower UK tariffs on American car, agricultural, and seafood imports, while the UK is seeking relief from steep U.S. tariffs on its own exports. Reeves emphasized that Britain would not rush a deal or compromise on food standards that could impact exports to the EU. Both ministers agreed on the need for fair and reciprocal trade and explored broader economic cooperation, including in technology and financial innovation. The talks occur as global concerns rise over U.S. import tariffs and broader trade tensions.