US Vice-President JD Vance has said there’s a “good chance” a trade agreement can be reached with the UK, as the global economy continues to reel from America’s sweeping new tariff strategy.
In an interview with UnHerd on Monday, Vance stated, “We’re certainly working very hard with Keir Starmer’s government,” in reference to ongoing negotiations.
Global markets have faced significant turbulence since 2 April, following President Donald Trump’s announcement of wide-ranging tariffs on nearly all US trading partners. The bold new policy includes a 10% “baseline” tariff on all imports from countries such as the UK and France.
More on this topic:
• What are tariffs and why is Trump using them?
• PM: I’ll only sign US tariffs deal if it suits UK
Sources within the UK government say talks with the US have been progressing well. The deal under discussion is expected to extend beyond simple tariff reductions, incorporating trade in both goods and services.
In his interview, Vance suggested that reaching a deal with the UK could be easier than with other European nations due to what he described as “a much more reciprocal relationship.”
He singled out Germany as a challenging trade partner, saying the country is “pretty tough on a lot of American” exports despite its high export volume to the US.
UK Business and Trade Minister Sarah Jones welcomed Vance’s comments, telling BBC Breakfast that the UK was in a “good position.” She confirmed that discussions are ongoing but refrained from offering a specific timeline.
“Nobody wants tariffs. No one wants a tariff war. We want to secure a deal with the US. We think that would be the best way to secure jobs and growth in our country,” Jones said.
However, Liberal Democrat leader Sir Ed Davey voiced skepticism over Trump’s role, saying, “Trump is no longer a reliable ally.”
“It seems to me that President Trump is bypassing Congress. We don’t want to copy that,” he told the BBC’s World at One programme, stressing that any agreement must be “properly examined” by UK ministers.
Since Trump’s announcement of what he dubbed “Liberation Day” tariffs, global markets have plunged, with trillions of dollars wiped from the US stock market in just a few days. While some exemptions have since been granted, markets on Monday remained lower than they were at the start of the month, despite showing signs of recovery.
Vance acknowledged the market volatility, stating, “Any implementation of a new system is going to make financial markets jittery,” but emphasized that Trump views tariffs as “a long-term play.”
“What we want is to see lower trade deficits, really across the board,” he added.
Vance also addressed recent criticism over perceived US softening toward Russian President Vladimir Putin and his stance on the war in Ukraine. He reiterated the White House’s message that peace requires understanding both sides.
“That doesn’t mean you morally support the Russian cause, or that you support the full-scale invasion,” Vance clarified. “But you do have to try to understand what are their strategic red lines, in the same way that you have to try to understand what the Ukrainians are trying to get out of the conflict.”
In response to Russia’s deadliest missile strikes on Ukraine this year, which killed at least 35 people on Sunday, Ukrainian President Volodymyr Zelensky has invited Trump to visit Ukraine before any peace deal is struck.
Despite leaked private chats containing disparaging remarks, Vance sought to reaffirm his connection to Europe: “I love European people. I’ve said repeatedly that I think that you can’t separate American culture from European culture.”
He also reiterated a consistent White House message, urging Europe to take greater responsibility for its own defense.
“It’s not in Europe’s interest, and it’s not in America’s interest, for Europe to be a permanent security vassal of the United States,” Vance said.
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