LONDON

The UK business secretary on Thursday expressed hope that an economic deal currently being negotiated between the UK and the US will result in the removal of all tariffs affecting British exports.

Speaking to BBC Radio 4 a day after US President Donald Trump announced new tariffs worldwide, Jonathan Reynolds said he is pushing for the complete elimination of the tariffs, not just measures to compensate for their impact.

"I want those tariffs removed. I want them removed in terms of the 10% that’s been announced. I want them removed on steel and aluminium. I don’t think there is an argument, a strong argument, for those being in place," he said.

British and American negotiators are reportedly close to finalizing an agreement, although it has yet to be approved by Trump.

Reynolds stressed that he viewed the deal as a chance to improve overall trade relations.

"I want not only to remove what has been announced so far, but to strengthen that relationship. I want more UK businesses with stronger market access to all parts of the US. That’s the prize on offer," he added.

Asked whether a deal was “ready to go,” Reynolds said no. But the BBC interviewer said Reynolds smiled as he replied, suggesting the talks may be further along than acknowledged.

Earlier, Prime Minister Keir Starmer said the UK would respond to new US tariffs with “cool and calm heads,” adding that while the government hopes to negotiate a deal, retaliatory measures are not “off the table.”

Trump on Wednesday announced a minimum of 10% tariffs on imports from all countries, including the UK, due to take effect Saturday.

While the 10% tariffs on the UK will be felt, according to Starmer, importers of British goods were spared higher rates, such as the 20% levied on the EU, 54% on China, or 46% on Vietnam.