British finance minister Rachel Reeves met with U.S. Treasury Secretary Scott Bessent to discuss a trade deal, emphasizing the importance of improving business ties with the European Union. The meeting occurred at an International Monetary Fund gathering, overshadowed by concerns about U.S. President Donald Trump's import tariffs.

Reeves highlighted the prosperity that the UK-U.S. relationship has brought to businesses and working people. The discussions with Bessent focused on reaching an economic prosperity deal that serves both nations' interests. The U.S. Treasury indicated Bessent stressed the need for fair and reciprocal trade. They also engaged in discussions about taxation, financial innovation, and technology partnerships.

Britain aims to mitigate the impact of Trump's tariffs, particularly on British car and metals exporters, by establishing an economic agreement that encourages tech investment. Reeves conveyed her shared concerns about the world economy, particularly China's export-heavy model, but cautioned against high tariffs as a solution.

Reeves and Prime Minister Keir Starmer are working to reduce post-Brexit trade barriers with the EU. While the United States is Britain's largest single trading partner, the EU collectively purchases more of Britain's exports. Reeves emphasized the significance of the trading relationship with Europe due to proximity and established partnerships.

Reeves also stated Britain would not rush into a deal with Washington, especially if it meant compromising food standards that could affect food exports to the EU. She met with German Finance Minister Joerg Kukies to prepare for a UK-EU Summit in May, aiming to improve relations strained by the 2016 Brexit vote.

Reeves and Starmer have pledged to accelerate Britain's economy. The IMF projects a 1.1% growth for Britain in 2025, surpassing Germany and France but lower than the previous forecast of 1.6%, partly due to the global economic impact of Trump's tariffs.

Additionally, Reeves engaged in talks with China's finance minister Lan Foan. Following the announcement of stricter customs controls and enhanced anti-dumping measures, Reeves affirmed a clear-eyed reengagement with China to capitalize on opportunities beneficial to the UK, ensuring continued cooperation between the two nations.