Rachel Reeves dashes hopes of early breakthrough in UK-US trade deal

Chancellor says UK is not going to rush a deal' and rejects new US demands on agricultural products

• Markets rise as Trump backtracks on China tariffs
• Reeves looks at ending zero tax regime for cheap imports

Rachel Reeves has dashed hopes of an early breakthrough in trade talks with the Trump administration, stressing that the UK is not going to rush" into a deal.

Speaking before her first face-to-face meeting with the US Treasury secretary, Scott Bessent, in which she was expected to lobby him to reduce tariffs, the chancellor said negotiations would take time.