A senior Labour frontbencher has warned that a new UK-US trade deal is far from guaranteed, despite ongoing high-level discussions aimed at easing tariffs imposed during Donald Trump’s presidency. Cabinet Minister Pat McFadden, speaking to Sky News, acknowledged the possibility of reaching an agreement with the White House but stressed caution.
“I think an agreement is possible, I don’t think it’s certain, and I don’t want to say it’s certain… Far better to have the right agreement than to rush and to have a hasty agreement for the sake of having one,” he stated. McFadden added optimistically, “There is no fundamental reason why we can’t reach a good agreement with the United States that serves the interests of the UK and the US very well.”
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However, he underlined the government’s commitment to quality over speed, adding, “We’re not going to sign something just to have a signing ceremony, that’s really important.” The Chancellor for the Duchy of Lancaster described the talks between the UK and US as “serious” and “at high levels,” but he refused to commit to a specific timeline for securing a deal.
“There’s a serious level of engagement going on at high levels,” he said. “We’re taking it seriously.” Momentum for a deal has grown following meetings between Chancellor Rachel Reeves and US Treasury Secretary Scott Bessent on Friday, which were characterized as “upbeat and positive.”
The urgency stems from the tariffs introduced by former President Donald Trump, who imposed a 25% tariff on steel and car imports and a 10% tariff on other goods, significantly impacting UK exports.
Despite the optimism around recent talks, Chancellor Reeves has made it clear that the UK will not compromise on key principles to secure a deal. In an interview with The Mirror before her trip to Washington, Reeves laid out several “red lines,” including the protection of UK farming standards and the maintenance of robust online safety regulations.
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Asked if she would be willing to walk away from the negotiations if these red lines were threatened, Reeves was resolute. “Absolutely. We’re not going to do something that’s not in our national interest,” she said.
The Labour government’s approach suggests a measured and strategic plan for any future trade agreement with the US, balancing the desire for economic growth with the protection of domestic standards and industries.
As negotiations continue, both sides appear committed to finding common ground, but British officials are keen to emphasize that securing the right deal is more important than simply reaching an agreement quickly.
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