Rachel Reeves, the Chancellor, is set to meet US Treasury Secretary Scott Bessent during her three-day visit to Washington, D.C., coinciding with the IMF's spring meetings. This visit comes as the IMF lowered its economic growth projections for the UK, indicating that the repercussions of Donald Trump's trade war are expected to impact the UK more severely than Europe. With the downgrade complicating fiscal plans, Reeves may need to consider further cuts or increase taxes in her upcoming budget.
Rachel Reeves is preparing for crucial talks with her US counterpart as she pushes to secure a trade deal amid economic uncertainty.
The IMF slashed the UK's economic growth forecast, warning that the fallout from Donald Trump's trade war will hit Britain harder than the rest of Europe.
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