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Philip Hammond to meet with Donald Trump's administration amid trade row | Philip Hammond to meet with Donald Trump's administration amid trade row |
(about 1 hour later) | |
Chancellor Philip Hammond has travelled to Washington in a bid to boost international trade amid a row over US export tariffs and Brexit divisions at home. | Chancellor Philip Hammond has travelled to Washington in a bid to boost international trade amid a row over US export tariffs and Brexit divisions at home. |
Mr Hammond will meet with key figures in Donald Trump’s administration, and attend meetings of the IMF, G7 and G20 and a gathering of Commonwealth Finance Ministers. | |
He will also visit New York to meet with CEOs of US financial sector giants that together have a market capitalisation of almost £600bn. | He will also visit New York to meet with CEOs of US financial sector giants that together have a market capitalisation of almost £600bn. |
On Wednesday, Mr Hammond clashed with Theresa May over how the Government was spending for a “no deal” Brexit, meanwhile Conservative ministers are at loggerheads with the US government over recent tariffs imposed on a major UK manufacturer. | |
The Chancellor said: “I will be in the US this week to demonstrate that Global Britain is not just a phrase, it is a reality. | |
“I am looking forward to productive discussions with my international colleagues as we work together to ensure that economic growth works for everyone.” | |
Mr Hammond leaves behind him a party still struggling to agree over the UK’s approach to Brexit, with comments made by the Chancellor about how the country is preparing for a “no deal” scenario at the heart of the most recent spat. | |
But the Government’s post-Brexit strategy, to secure new trade deals with countries like the US, is also under pressure after American officials hit UK-based plane maker Bombardier with 220 per cent tariffs. | |
At the IMF, G7 and G20, Mr Hammond will meet with fellow finance ministers and central bankers to discuss challenges like global productivity, digital taxation and climate sustainability. | |
It is the first time a Chancellor has attended the Commonwealth Finance Ministers Meeting for seven years, where he will set out the Government’s ambitions for next year’s Commonwealth Heads of Government Meeting in London. | |
A key topic of discussion will be climate sustainability in light of the recent hurricanes that have devastated the Caribbean and affected many thousands of citizens of Commonwealth countries. | A key topic of discussion will be climate sustainability in light of the recent hurricanes that have devastated the Caribbean and affected many thousands of citizens of Commonwealth countries. |
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