The US is “working very hard” with the UK on negotiating a “great” trade deal, vice president JD Vance has said.
US President Donald Trump imposed sweeping tariffs on imports to the United States several weeks ago, rocking the world economy, sending stock prices tumbling and sparking fears of a global recession.
Since then, Mr Trump has rowed back on tariffs, reducing the rate paid on imports from most countries to 10% and, on Saturday, exempting electronics such as smartphones and laptops from the levy – including the 145% charge on imports from China.
The Government has been hopeful of a deal to exempt the UK from Mr Trump’s tariffs, and in an interview with the website UnHerd on Tuesday, Mr Vance said he was optimistic that both sides could come to a mutually beneficial agreement.
“We’re certainly working very hard with Keir Starmer’s government” on a trade deal, Mr Vance said.
“The President really loves the United Kingdom. He loved the Queen. He admires and loves the King. It is a very important relationship. And he’s a businessman and has a number of important business relationships in [Britain]. But I think it’s much deeper than that.
“There’s a real cultural affinity. And, of course, fundamentally, America is an Anglo country.
“I think there’s a good chance that, yes, we’ll come to a great agreement that’s in the best interest of both countries.”
Mr Vance said the “reciprocal relationship” between the US and UK gave Britain a more advantageous position than other European countries when it comes to negotiating new trade arrangements, adding: “While we love the Germans, they are heavily dependent on exporting to the United States but are pretty tough on a lot of American businesses that would like to export into Germany.”
Chancellor Rachel Reeves will aim to continue negotiations for an economic deal with the US later this month when she travels to Washington to attend the International Monetary Fund’s spring meetings with other finance ministers.