Finance
UK trade minister aims for Washington trip by end of the year
Published by Global Banking and Finance Review
Posted on December 9, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 9, 2025
2 min readLast updated: January 20, 2026
UK trade minister Peter Kyle aims to visit Washington to advance negotiations on pharma and steel sectors, seeking to lower US steel tariffs and address drug pricing issues.
By Alistair Smout
LONDON (Reuters) -Britain's trade minister Peter Kyle is aiming to visit Washington before the end of the year to progress negotiations over sectors such as pharma and steel, he said on Monday.
Britain in May was the first country to secure partial relief from U.S. President Donald Trump tariffs, but elements of that deal have not been finalised, including a commitment to work to lower steel tariffs faced by UK firms to zero and work together on the pharmaceutical sector.
Kyle told reporters he was "hoping to go to the U.S. before Christmas," to progress talks.
The pharmaceutical industry has criticised Britain's approach to drug pricing, and Trump has said Britain and Europe should pay more for drugs.
Several firms have paused investment plans in Britain and talks over a voluntary pricing scheme have stalled.
Kyle said the voice of the pharma industry was incredibly important and was "something that we've been working really hard on."
"The companies themselves, they play hardball in their negotiations, and we are playing hardball in the interests of everyday people," Kyle said. "So we are finding our way through this that will deliver for patients."
(Reporting by Alistair Smout; editing by Sarah Young)
Steel tariffs are taxes imposed on imported steel products. They are intended to protect domestic steel manufacturers from foreign competition by making imported steel more expensive.
Trade negotiation is the process by which countries discuss and agree on the terms of trade, including tariffs, quotas, and regulations, to facilitate international commerce.
Brexit refers to the United Kingdom's decision to leave the European Union, which was finalized on January 31, 2020. It has significant implications for trade, immigration, and economic policies.
The UK economy is a highly developed and market-oriented economy, characterized by a diverse range of industries, including finance, manufacturing, and services. It is one of the largest economies in the world.
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