‘Good chance’ of UK-US trade agreement, says US VP

Vance said in an interview that there was a “good chance” of reaching a deal amid ongoing fallout from America’s recent global trade policy changes.

“We’re certainly working very hard with Keir Starmer’s government,” Vance told the UnHerd website in a Monday interview.

Global markets have experienced volatility since April 2, when president Donald Trump announced extensive tariffs affecting nearly every country worldwide.

The unprecedented trade policy included a 10% “baseline” tariff on all UK imports, along with similar measures for France and other traditional trade allies.

UK government officials indicate recent trade negotiations with the US have been progressing well. Any agreement would reportedly extend beyond tariff reductions to encompass various aspects of goods and services trade.

During the interview, Vance suggested a US-UK trade agreement would be more attainable than deals with other European nations due to “a much more reciprocal relationship.”

He mentioned Germany as an example of a country that exported heavily to the US but by comparison was “pretty tough on a lot of American” exports.

After Trump announced his “Liberation Day” tariffs, stock markets across the globe took a tumble, with trillions of dollars wiped from the US Stock market in the days after.

The US president has since made some exemptions, and stock markets on Monday showed signs of recovery, although they are still down on the month.

Vance said any implementation of a new system is going to make financial markets “jittery” and that Trump is committed to the tariff strategy as “a long-term play”.

“What we want is to see lower trade deficits, really across the board,” Vance said.

The vice-president also expressed an affinity for Europe, after disparaging remarks between him and other top US officials were leaked from a private chat.

“I love European people. I’ve said repeatedly that I think that you can’t separate American culture from European culture,” he said.