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The UK finance minister, Rachel Reeves, has called for an “ambitious new relationship” with the European Union, signaling a renewed push for deeper economic cooperation with Britain’s largest trading partner, even as tensions rise due to newly imposed US tariffs. According to Reuters, Reeves expressed her desire to forge a bold reset in relations with the European Union. She emphasized the need for the United Kingdom to rebuild trust with European partners after the Chanartic uncertainty of Brexit. Reeves to champion global trade reform and stronger EU ties at upcoming IMF summit In a separate piece published by The Observer on Saturday, Reeves also warned that tariffs imposed by former US President Donald Trump will likely have a “profound” impact on both the UK and the global economy. Reeves acknowledges the challenges ahead and is “under no illusion about the difficulties that lie ahead.” She emphasizes Labour’s global outlook: “The Labour Party is an internationalist party. We understand the benefits of free and fair trade and collaboration. Now is not the time to turn our backs on the world.” Reeve’s message marks a departure from past Conservative policies that shied away from EU ties. Trade barriers that have harmed British exporters and created logistical difficulties to trade would be removed under Reeves’ plan. She also wants smoother arrangements for services and professional standards across borders. At the International Monetary Fund meeting later this month, Reeves hopes to advocate a “more balanced global economic and trading system.” This is on the heels of an uptick in the UK economy, which, amid the uncertainty, saw its strongest growth in 11 months in February — beating economists’ estimates and giving a small buffer ahead of the anticipated effects of U.S. tariffs. Reeves rallies support for UK exporters as Trump tariffs threaten global trade stability The…

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Filed under: News - @ April 13, 2025 9:04 am