The chancellor, Rachel Reeves, has set out the case for far-reaching changes to global trade and economic agreements, admitting that Donald Trump’s tariffs will have a “profound” effect on the UK and world economies that require a strong international response.
In her first significant intervention since the US president caused chaos on the global financial markets by announcing huge levies on imports to the US, Reeves says in a column for the Observer that she is “under no illusion about the difficulties that lie ahead”.
