By GB News (World News) | Created at 2024-11-16 09:39:28 | Updated at 2024-11-16 12:59:41
3 hours ago
Britain has been told to move closer to the US to negotiate a trade deal instead of aligning itself with the "socialist model" of the EU, one of Trump’s top economic advisers has claimed.
Resuscitating his previous administration’s trade negotiations with the UK, Trump has promised tariffs of 20 per cent on imports to the US, while imports from China impose tariffs of up to 60 per cent.
One of Trump’s advisers Stephen Moore has said that the former President will likely seek a closer deal with the UK in a wider effort to provide growth to the American economy.
He said that DC would be "less interested" in forging a free trade deal with the UK if Starmer successfully "reset" the nation’s relationship with the economic bloc.
Starmer has previously committed to resetting the UK's relationship closer to the EU, in a bid to forge closer ties with the economic bloc
PA
Noting Starmer’s intention to bring the UK closer to a "European model", he added that DC had expressed hope that the UK would migrate towards "freedom" but this aspiration has dwindled since Rachel Reeves announced her Budget.
Moore’s comment has followed Bank of England chief Andrew Bailey urging Labour to "rebuild" trade relations with the supranational entity earlier this week - despite the role being officially apolitical.
He said: "Now, as I have said many times, as a public official I take no position on Brexit per se."
"The changing trading relationship with the EU has weighed on the level of potential supply.
The closer relationship with Europe has been re-emphasised by Rachel Reeves in her Mansion House speech
PA
"The impact on trade seems to be more in goods than services, that is not particularly surprising to my mind. But it underlines why we must be alert to and welcome opportunities to rebuild relations while respecting the decision of the British people."
However, he did recognise that the UK must respect the country’s decision to leave the EU in 2016.
The closer relationship with Europe was re-emphasised by Rachel Reeves in her Mansion House speech.
Speaking alongside Bailey, she announced: "We will not be reversing Brexit or re-entering the single market or customs union.
"But we must reset our relationship."
