A cabinet minister was given a brutal reality check on live radio this morning after he suggested the UK had managed to secure a favourable tariff rate from Donald Trump.
The US president imposed a 10% tax on all UK exports to America – far lower than many other major nations, and half the 20% tariff slapped on the European Union.
On the Today programme, trade secretary Jonathan Reynolds said he was “disappointed” by Trump’s decision, but that negotiations would continue on a trade deal with the US which could see those tariffs reduced.
Presenter Nick Robinson then asked: “You’re not claiming, are you, that this 10% tariff is a result of your negotiations, are you? You’re not saying we’re being treated better because we’ve been nicer to Donald Trump?”
Reynolds replied: “We have engaged on trade issues, that has been important.”
But Robinson then told him: “Just to be clear, the 10% tariff is a standard tariff for the whole of the world, including the unpopulated Heard and McDonald Islands, an Australian territory which is home only to penguins, seals and humans. So you’ve got the same tariff as them.”
The minister said: “I think it is important that there is nobody who is in a better position than the UK. I would have been disappointed if that had been the case.”
Other nations in the 10% tariff bracket include Afghanistan, which is run by the Taliban, the Dominican Republic, Guatemala, Honduras and El Salvador.
However, China has been hit with a 34%, India’s rate is 26% and Vietnam’s is 46%.
Meanwhile, Keir Starmer told an emergency summit of business leaders in Downing Street this morning that “nothing is off the table” when it comes to responding to Trump’s tariffs.
He said: “We must rise to this challenge. That is why I have instructed my team to move further and faster on the changes I believe will make our economy stronger and more resilient.
“Because this government will do everything necessary to defend the UK’s national interest, everything necessary to provide the foundation of security that working people need to get on with their lives.
“That is how we have acted and how we will continue to act: with pragmatism, cool and calm heads focused on the national interest.”
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