Business Secretary Jonathan Reynolds acknowledged the US as “our closest ally” while emphasising that “nothing is off the table” in response to President Trump’s 10% tariffs on UK imports.

Trump is now holding up a large chart showing a table titled “Reciprocal Tariffs”, which compares tariffs imposed by other countries on the US versus Washington’s own levies.

“They’ve taken so much of our wealth away from us,” he says. “We’re not going to let that happen.”

“They established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government,” Trump says.

“That’s why effective at midnight we will impose a 25% tariff on all foreign made automobiles,” Trump says.

Donald Trump indicated that Elon Musk would leave his government position as a special employee by the end of May, although it remains uncertain if this will occur as scheduled.