Leaders of South Korea, the united Kingdom and Germany expressed their keen interests in sealing trade deals with the United States since the latter introduced sweeping reciprocal tariffs on imports into the country in a bid to balance up trade with the world.
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00:00This is the power of the future of the economy.
00:07The economy will be a strong and strong.
00:11As you said, after liberation day.
00:14It doesn't work. Why would we do it? It doesn't work here.
00:17Germany doesn't need it. Germany is about to have a really big stimulus and industrial policy.
00:21Today, Washington D.C. will be the president of Washington D.C.
00:28and the U.S.D. chairman and the U.S.D. chairman and the U.S.D. chairman and the U.S.D. chairman and the U.S.D. chairman.
00:37This is certainly a deal to be done between the U.K. and the U.S.
01:06I very much understand the concerns that the U.S. has about countries that run large, persistent trade surpluses with them.
01:15The U.K. is not one of those countries. We have balanced trade between our two countries.
01:20There are a million British people working for American firms and there are a million Americans working for British firms.
01:27Our economies are very closely intertwined and certainly what we hear from the U.S. administration is that they are keen to do a deal with the U.K. reflecting the closeness of that relationship.
01:40And as Chancellor and this Labour government very much believe in free trade, we also believe it needs to be fair trade and that's why we do understand some of the concerns that the United States has.
01:53We are willing to reduce trade barriers in the U.K.
01:57Those trade barriers that do exist. And we want to build on the relationship that we have.
02:02I wouldn't say that there is a rush, but we do see a sense of urgency to find an agreement because, as we saw, we are announcing a new data set of growth which won't be great.
02:21The IMF is announcing a reduction of growth numbers. So, in that sense, the urgency to act is definitely there.
02:32And I think one of the things that every CEO that I speak with tells me is it's all about reducing uncertainty at some point.
02:40Because at the moment, while nobody knows whether there will be a deal, what the deal will entail, investment decisions are being procrastinated.
02:50Consumers are procrastinating consumption decisions. So, at the end, from that perspective, it's bad for everyone.
02:58You know, Germany has been overly dependent on Russia for energy, on the United States for security and on China for exports and imports.
03:09So, our problem, our fundamental structural problems are not only associated with the United States,
03:16they're also associated with the fact that we've over-reliant on building stuff in Germany and exporting it to China.
03:23We've been over-reliant on importing energy from Russia and not diversifying enough.
03:28So, we have more issues in our structural problems of our economy than only the issues that Trump addresses.
03:39So, I do have a lot of economic issues that Trump's original and the issues that I've given to him.
03:40So, we've got to take a few problems of our economy from Russia.
03:44So, I'll start, to take a few problems of those things in the world.
03:48So, you know how to decide to run the world?
03:49So, I think it's a big problem.
03:51So, I'll just take a few problems, but I think your moves in my mind, I think it's a key for us.
03:55So, we can't complete the problem of our economy with the process of the start of your economy.