The IMF reduced its growth forecasts in the UK 2025 by 0.5% earlier on Tuesday. The revised figure puts the growth of GDP of Great Britain over Japan, France, Italy, Germany and the euro area, but behind the United States and Canada.
During meetings with the G20 and European finance ministers on Wednesday, and in an address at the World Economy Summit, “the Chancellor will highlight the importance of combating obstacles to trade to launch economic growth,” according to a statement from the British government.
Reeves said it would continue to plead in the event of “open trade which ensures the stability of businesses and safety to workers”. “We need a global economy that offers stability and equity to companies wishing to invest and exchange,” said the Chancellor.
“Protect national interest”
Reeves later plans this week to sit in person with the Treasury Secretary Scott Bessent – now the predilection commercial negotiator of the US President Trump – in the hope of advancing talks to get the United Kingdom out of prices under the United States.
British officials prioritize efforts to negotiate 25% prices on cars, steel and aluminum and imminent tasks on pharmaceutical products, imposed by the Trump administration.
The United Kingdom proposed to rethink its tax on digital services and examine the application of its online security and digital competition rules in exchange for an agreement.
Politices
