Rachel Reeves stepped in to soothe stock market jitters on Tuesday amid signs that the punishing global sell-off triggered by US trade tariffs was starting to ease. The chancellor told parliament she had spoken to Andrew Bailey, the governor of the Bank of England, who confirmed “markets are functioning effectively and that our banking system is resilient”. Reeves argued again that a trade war “is in nobody’s interest”, confirming that the UK was seeking to negotiate a new deal with the US and that she would meet the US Treasury secretary, Scott Bessent, “shortly”. Britain was also working with international
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