The EU reset and the meaning of tariffs
It has been an incredibly busy start to the year on the international front. The Prime Minister made history as the first UK leader to attend the EU Summit since Brexit, joining leaders of the EU27 to discuss defence and security cooperation. Further afield, the Chancellor led the UK’s delegation to Beijing for the first UK-China Economic and Financial Dialogue since 2019. The Secretary of State for Business and Trade also announced he will be visiting India this month to relaunch negotiations for a UK-India Free Trade Agreement.
And that’s just the UK – across the Atlantic, we have seen the US administration get firmly underway with its new approach to trade, capturing global headlines and sparking retaliatory announcements from Canada and Mexico.
US tariffs
We have been closely monitoring POTUS’ announcement of tariffs on Canada, Mexico and China and on steel imports more widely. Members are understandably worried as they look to understand
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