UK won't jeopardise US trade talks with rushed tariff response, says Reeves

LONDON (Reuters) - Britain volition not unreserved into enactment to antagonistic immoderate import tariffs announced aboriginal connected Wednesday by U.S. President Donald Trump due to the fact that it does not privation to hazard undermining a imaginable commercialized woody with Washington, concern curate Rachel Reeves said.

"The authorities has been truly wide that we are going to attack this successful a clear-headed mode and ever correspond the nationalist interest," Reeves told lawmakers successful parliament.

Reeves said she met representatives of British exporters earlier connected Wednesday and "they don't privation authorities to unreserved into immoderate effect due to the fact that the prize connected connection is an economical agreement. We don't privation to bash thing that undermines that."

Britain is hoping that immoderate tariffs imposed by Trump volition beryllium reversed rapidly if the 2 sides tin hold the outline of a caller economical concern which is apt to absorption connected areas specified arsenic exertion and artificial intelligence.

Unlike the European Union, Canada and different large economies, Britain has not retaliated implicit U.S. tariffs that person already been announced.

Reeves said she had spoken to EU Commissioner Valdis Dombrovskis, who is successful complaint of the bloc's economy, and different countries astir their responses to Trump's expected announcement of tariffs earlier deciding connected immoderate retaliatory moves.

Reeves besides told parliament's Treasury Committee that circumstantial tariffs connected UK exports were little applicable to the British system than the broader planetary request picture.

Britain's exports to the U.S. are mostly successful services - which, dissimilar goods bash not typically incur tariffs - including from its immense fiscal services sector.

Reeves said she was taking enactment to marque definite Britain's concern manufacture could proceed to vie arsenic the Trump medication cuts reddish tape.

"We request to marque definite that we stay competitory connected that satellite signifier if we are going to unafraid jobs and investments into UK fiscal services," she said.

British regulators person postponed the implementation of the planetary Basel III rules connected banks by a further twelvemonth and dropped proposals for alleged name-and-shame rules for fiscal institutions since the Labour Party won past year's election.

(Reporting by David Milliken, Suban Abdulla and Ben Ezeamalu; Writing by William Schomberg; Editing by Sachin Ravikumar)