Ministers say they will stay "cool and calm" while negotiating an economic deal to ease the impact of US tariffs but are not ruling out retaliatory measures. Treasury minister James Murray stressed the focus is on avoiding a trade war and boosting economic growth, with upgraded forecasts for 2026 following government reforms. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00Well, the Prime Minister has set out his view on the situation to businesses when he met
00:04them the other day. And we're very clear that President Trump is acting in line with his
00:08electoral mandate and the Prime Minister here is acting in line with his mandate, which
00:12is to remain cool-headed, which is to continue with a pragmatic approach and remain fully
00:18focused on getting an economic deal. We reserve the right to respond and to retaliate, but
00:23we know that what British businesses want is us to avoid a trade war, to get an economic
00:27deal, because that is what will mitigate the impact on British businesses. The UK has been
00:32put in the lowest band of tariffs, which puts us in the best possible position going forward.
00:37But our focus has to be on getting a deal, because we know that what's happened will
00:41clearly have impacts here in the UK and, of course, around the world. But getting that
00:45deal will strengthen the relationship between the US and the UK and mitigate the effects
00:50of the changes that have been announced.