British finance minister Rachel Reeves met U.S. Treasury Secretary Scott Bessent on Friday to discuss a trade deal, shortly after saying that improving business ties with the European Union was "arguably even more important.

The chancellor says she “understands what President [Donald] Trump wants to address” with his tariffs, ahead of talks with her US counterpart in Washington on Friday. Rachel Reeves said there were similarities with the way both the US and UK governments had come to power off the back of voter frustration with the economy.

Rachel Reeves has declared Britain’s trading relationship with Europe to be “arguably even more important” than its one with the US, as she sought to shift Britain’s focus away from its trade spat with the Trump administration to a crucial upcoming summit with the EU.