• UK Chancellor Rachel Reeves signals potential reduction of US car tariffs from 10% to 2.5%.
• Reeves emphasizes no compromise on British food and car safety standards in trade talks.
• The UK is not rushing into a deal, focusing on achieving conditions favorable for British interests.
• Trade negotiations highlight a desire to strengthen ties with both the US and EU.
• Concerns remain about existing tariffs impacting UK businesses and consumers.

Chancellor Rachel Reeves has indicated that the UK may lower tariffs on US car imports from the current 10% to 2.5% as part of ongoing trade negotiations aimed at solidifying a deal with President Trump's administration. Reeves stated her intention to reduce both tariff and non-tariff barriers between the UK and the US while underscoring that the UK would maintain its stringent food and safety standards during these discussions, according to BBC.

At a recent event in Washington, Reeves confirmed, "We’re not going to rush a deal. We want to get the right deal that’s in our national interest," which aligns with her commitment to avoiding changes to agricultural regulations that could permit hormone-treated beef from the US. U.S. officials have voiced interest in boosting agricultural exports and automotive sales, making discussions around these topics particularly significant, according to Reuters and The Hill.

As part of her dialogue with US Treasury Secretary Scott Bessent, Reeves expressed an understanding of the US perspective on trade imbalances while reasserting the UK's commitment to high standards. "We are not going to be changing our standards based on asks from foreign governments," said Reeves, emphasizing the focus on fair trade that protects British interests, according to New York Times and BBC.

Despite hopes for a favorable trade deal, Reeves made it clear that the timing remains flexible, as there are ongoing negotiations with other countries as well. She expressed, "Those discussions continue" and noted that fostering a stronger relationship with the EU holds equal if not greater importance for the UK’s economic future, given the interconnected nature of British and European economies, as reported by Reuters and The Hill.