'Disruption to global trade is a threat to open UK economy'

“Anything that disrupts the global trading system Is a threat to the UK, because we are a much more globally orientated trading economy than some partners,” business minister Jonathan said

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Britain faces a "threat" to its open economy from any global fallout from US President Donald Trump's sweeping tariffs but rather than retaliate it will double down on efforts to get better trading terms, its business minister said on Thursday.

Britain was spared the most punitive treatment in Trump's tariff programme, awarded the lowest levy rate on imports of 10 per cent, but its economy remains vulnerable to a global slowdown and any escalating trade war.

"Anything that disrupts the global trading system is a threat to the UK, because we are a much more globally orientated trading economy than some partners," Jonathan Reynolds said on Thursday.

He said he would continue to work to secure an economic deal with the US by offering to more closely align on areas such as technology, in the hope that if a deal was agreed, the US would then reverse the tariffs.

"We've got to keep this work going," he said, adding that he recognised that Britain was already in a better position than lots of other countries who are facing tariffs of 20% or higher.

Britain would stick with its "cool headed" approach he said, but the country could still respond to the tariffs if needed, he added.

"We've got to reserve every right that we have to respond to this if we need to," he said.