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Economy LIVE: Rachel Reeves in Washington for crisis talks amid meltdown

2025-04-22 00:00:00.0 每日快报-政治原网页

Rachel-Reeves (Image: Getty)

CHANCELLOR Rachel Reeves faces a nightmare day as she meets fellow finance ministers in Washington and push for a US trade deal.

The brutal reality of Labour’s economic woes will be laid bare by global finance body the International Monetary Fund (IMF) when it sets out its latest economic forecasts. They are expected to reveal the UK will continue to struggle for the rest of the decade which would blow a massive hole in Keir Starmer’s attempts to be re-elected for a second term.

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The situation has grown even worse thanks to US President Donald Trump's trade tariffs and, in the last few days, his criticism of Federal Reserve Chair Jerome Powell, the head of America's central bank, which have caused stock markets to crash.

Ms Reeves will hold her first face-to-face meeting with American counterpart Scott Bessant for talks on an economic deal between the US and UK. Her top priority is to get an end to the 25% tariffs on steel and cars, and the US has also impose 10% levies on other UK good.

The Chancellor is to spend three days in the US capital for the IMF's spring meetings, which bring together finance ministers and business leaders from across the G7 and G20.

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Ms Reeves said: "The world has changed and we are in a new era of global trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

"This changing world is unsettling for families who are worried about the cost of living and businesses concerned about what tariffs will means for them. But our task as a Government is not to be knocked off course or to take rash action which risks undermining people’s security.

“Instead, we must rise to meet the moment and I will always act to defend British interests as part of our plan for change."

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7 hours ago11:06 Jonathan Walker

Could a trade deal be just weeks away?

It was previously reported that Donald Trump plans to sign a trade deal with the UK in just three weeks. Britain is set for a rapid deal, according to reports. It comes after US vice president JD Vance said the US is “working very hard” on a trade deal with the UK thanks partly to the President’s love of the royal family.

Read more about a possible trade deal here.

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8 hours ago10:29 Jonathan Walker

Inflation could fall says Bank of England expert

A Bank of England policymaker said US trade tariffs are more likely to push down on UK inflation than to push it up, but that there are risks on both sides.

Speaking to Bloomberg, Megan Greene said: “The tariffs represent more of a disinflationary risk than an inflationary risk.”

However, she added: “There’s a ton of uncertainty around this, but there are both inflationary and disinflationary forces.”

She said potential outcomes like export substitution would likely push inflation down, while “trade diversion from other countries that are trying to find a new home for their markets, that also pushes down on inflation”.

Meanwhile, “a re-patterning of supply chains can push up on inflation”, while trade fragmentation more widely “reduces potential growth, that tends to be inflationary”.

8 hours ago09:50 David Williamson

Will the Chancellor preside over a surge in child poverty?

Rachel Reeves's attention is focused on protecting the national finances, encouraging growth and securing a deal with US - but charities are warning Labour faces a legacy-defining disaster for British children.Major charities have joined forces to warn of the impact of keeping the two-child benefit cap in place.They state: “If it is not scrapped, the stark reality is that child poverty will be significantly higher at the end of this parliament than when the government took office, making this the first time a Labour government would leave such a legacy, and the number of children living in poverty will be at its highest since records began.”

8 hours ago09:44 Jonathan Walker

What Rachel Reeves will say in Washington

Senior Political Correspondent Christian Calgie has previewed the Chancellor's Washington trip.

He says Rachel Reeves is to make the case for free global trade at the International Monetary Fund’s spring meeting in Washington DC, as she hopes to get a trade deal with the US over the line. The Chancellor has jetted out to the United States as Britain hopes to ramp up the pressure to get a deal signed with President Trump.

Ms Reeves will urge the White House to slash its tariffs, with UK trade officials hoping that an FTA might see some relief for Britain’s car, steel and pharmaceutical manufacturers. However there is little hope that any trade deal would see the blanket 10% tariffs lifted from the rest of Britain’s economy.

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9 hours ago09:30 Jonathan Walker

UK also wants trade deal with India

As well as seeking to make progress on a US deal, Ms Reeves is also expected to discuss improving trading relations with other nations – something she has previously said the Government is keen to do.

Earlier in April, she hosted India’s finance minister for talks on a potential free trade agreement and trade is expected to feature heavily at a UK-EU summit in May.

标签：政治
关键词： trade Comments CHANCELLOR Rachel Reeves Sponsored Trump Donald tariffs