Wednesday, 17 December 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
UK trade minister to meet USTR Greer to discuss implementing tariff deal
Tuesday, 3 June 2025 12:35 WIB | ECONOMY |

Britain's trade minister Jonathan Reynolds will meet U.S. Trade Representative Jamieson Greer on Tuesday to discuss the implementation of a trade deal that has been complicated by the announcement of fresh U.S. tariffs on steel.

Reynolds will review recently agreed deals with counterparts from the U.S. and EU, Britain's two biggest trading partners, during a three-day trip to Paris and Brussels this week.

The deals struck last month are both political pacts rather than formal trade agreements, and the details of their implementation have not been set out.

Starmer and U.S. President Donald Trump agreed to reduce tariffs on British imports of cars and steel to the United States, but its delayed implementation means tariffs may go up before they come down.

Last week, Trump said that tariffs on imported steel would rise to 50% from 25% from Wednesday. Industry body UK Steel said it understood that British producers would likely be impacted by the change, which would be a "body blow" to the sector.

A British government spokesperson said the UK was engaging with the United States on the implications of the announcement ahead of Reynolds' meeting with Greer to discuss implementation timelines of the bilateral agreement in Paris.

"We recognise our relationship with G7 allies and EU counterparts must continue to evolve and deliver a better trading environment for our businesses and exporters," Reynolds said in a statement ahead of the trip.

Reynolds will also meet Indian Minister of Commerce Piyush Goyal to discuss a recently negotiated Free Trade Agreement, which is still having its legal text finalised and is subject to ratification in both countries, which could take months.

After meetings with G7 and OECD counterparts in Paris, Reynolds will hold talks with EU trade commissioner Maros Sefcovic.

As part of efforts to reset ties without fundamentally reopening the Brexit deal, Britain and the EU have agreed to conclude talks to remove red tape on its food trade, but details of the plan have yet to be finalised.

In advance of that agreement coming into force, Britain on Monday said it would scrap border checks on fruit and vegetables imported from the European Union, that had been due to be effective beginning in July.

Source: Investing.com

RELATED NEWS
Treasury Secretary Bessent forecasts inflation drop in first half of 2026...
Tuesday, 16 December 2025 23:12 WIB

Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcem...

US Retail Sales Stagnated on Drop in Motor Vehicle Purchases ...
Tuesday, 16 December 2025 21:16 WIB

US retail sales were little changed in October as a decline at auto dealers and weaker gasoline receipts offset stronger spending in other categories. The value of retail purchases, not adjusted...

US Payrolls Rise 64,000 After October Drop, Unemployment Up...
Tuesday, 16 December 2025 20:59 WIB

US job growth remained sluggish in November and the unemployment rate rose to a four-year high, pointing to a continued cooling in the labor market after a weak October. Nonfarm payrolls increas...

Latest News: Nonfarm Payrolls Rise by 64,000 in November, Beating Expectations of 50,000...
Tuesday, 16 December 2025 20:39 WIB

Nonfarm Payrolls (NFP) in the United States rose by 64,000 in November, according to a report from the U.S. Bureau of Labor Statistics (BLS) on Tuesday. This figure was better than market expectations...

Bessent Says More Fed Interviews This Week, Predicts January Announcement...
Tuesday, 16 December 2025 20:08 WIB

Treasury Secretary Scott Bessent said there will be one or two more interviews this week for the next Federal Reserve chairman, with President Donald Trump likely announcing the next chairman sometime...

LATEST NEWS
Gold Boosted by U.S. Easing Prospects, Strong Demand Trends

Gold prices extend gains, supported by expectations of further U.S. monetary easing, persistent geopolitical risks and strong investor demand. "While U.S. employment data was mixed, markets continue to see the Federal Reserve cutting its interest...

S&P 500 Rebounds After 3-Day Slide

Stocks rose Wednesday after the S&P 500 posted a third losing session, as investors weighed newly released U.S. economic data. The S&P 500 traded 0.1% higher along with the Nasdaq Composite. The Dow Jones Industrial Average climbed 146...

Fed's Waller: There is no rush to cut interest rates given outlook

Fed Governor Christopher Waller said Wednesday that the Fed is in no rush to cut interest rates, given the current outlook, according to Reuters. Key points: "The job market is very weak, job growth is not good right now." "The Fed's rate cuts...

POPULAR NEWS
Williams says Fed policy in good position, sees inflation moderating in 2026.
Monday, 15 December 2025 23:13 WIB

New York Federal Reserve President John Williams said on Monday the U.S. central bank's interest rate cut last week leaves it in a good position to...

Stocks Jump in Broad Advance as Investors Bet Data This Week Will Show Strong Economy, Tame Inflation
Monday, 15 December 2025 21:47 WIB

Stocks rose Monday led by a broad array of names as traders bet data set for release this week will point to tame inflation and strong economic...

Asian Stocks Are in the Red Again - A Sign the AI ​​Bubble Is Starting to Burst?
Monday, 15 December 2025 07:30 WIB

Asian markets opened lower in the last full trading week of 2025, fueled by concerns about the prospects for tech company profits and growing AI...

Euro Weakens Slightly, Dollar Slowly Rebounds, Trend Reversal or Just a Breather?
Monday, 15 December 2025 08:23 WIB

Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10%...