US Treasury Secretary Scott Bescent was questioned by a reporter at the International Institute for Financial Research (IIF) Global Outlook forum on Side Jobs at the IMF and World Bank 2025 Spring Conference held in Washington, DC, and Washington, DC, USA on April 23, 2025.
Elizabeth Franz | Reuters
UK Finance Minister Rachel Reeves met with U.S. Treasury Secretary Scott Bescent on Friday to discuss the trade agreement shortly after he said it was “undetectedly even more important” to improve business relations with the European Union.
Reeves spoke with Bescent at a gathering of the World Finance Chiefs of the International Monetary Fund, dominated by concerns about the US president. Donald Trump’s Import Customs duty.
“The UK-US relations have brought prosperity to businesses and workers on both sides of the Atlantic,” Reeves said in a brief statement on social media.
“Today, I met with Secretary Scott Bescent to discuss our goal of reaching an agreement in both the UK and US economic prosperity trade and our national interest,” she added.
The US Treasury Department said Bessent pointed to the need for fairness and mutual trade advances, saying the two “had positive discussions on taxation, financial innovation and technology partnerships.”
The UK, like many other countries, wants to mitigate the impact of Trump’s tariffs. This will be especially high for British automobile and metal exporters – by attacking economic agreements with his administration that could encourage more technological investments.
Reeves tried to show Trump’s team during his trip to Washington She shares The president’s concerns about the world economy, particularly China’s exports high model — but she also says high tariffs are not the answer.
At the same time, Prime Minister Reeves and Kiel Starmer hope to remove post-Brexit trade barriers with the EU. The US is the UK’s only largest trading partner, but the EU as a BLOC is buying more countries’ exports.
“I understand why we are so focused on our business relationship with the US, but in reality, our business relationship with Europe is definitely even more important.
Earlier this week, She said The UK did not rush to secure a deal with Washington, eliminating concessions on food standards that could endanger London’s ability to boost food exports to the EU.
Reeves met German Finance Minister Jogue Kukeys in Washington on Friday to prepare for a gathering of European leaders seeking to improve relations between the UK and the bloc, which was strained in the 2016 Brexit vote.
“We discussed the UK-EU summit in May and marked a key moment in the UK and the European Union reset,” Reeves said.
She and her priorities last year promised voters would speed up the UK economy. This said in 2025 the IMF appears to grow faster than Germany and France, but it has declined from previous forecasts from previous forecasts due to a hit to the global economy from Trump’s tariffs.
Reeves also held talks with China’s finance minister, Lan Foyan, on Friday. Announce stricter habits Manage and strengthen UK anti-damping systems that could affect Chinese exporters.
“Our clear eye reengagement with China ensures that opportunities are grasped when the UK is right,” she posted on X, adding that both sides will continue to cooperate.
