Rachel Reeves has been warned that Donald Trump’s tariffs pose a “clear and present danger” and will lead to job losses within weeks after the International Monetary Fund slashed Britain’s growth forecasts. The chancellor is attending a meeting of the IMF in Washington, where she hopes to secure a breakthrough on a trade deal that will reduce tariffs on the UK. She will hold talks with Scott Bessent, the US Treasury secretary, on Friday. Trump has imposed tariffs of 10 per cent on all UK exports to the US and 25 per cent on steel, aluminium and cars in a move that will have a significant impact on economic growth. The car industry said that the impact has been “severe, significant and immediate” while manufacturers

Source: The Times April 22, 2025 13:40 UTC