came to an abrupt halt for a huge breaking news announcement from chancellor following the launch of new tariffs. Halfway through the Wednesday afternoon show(April 2), presenter Jonathan Samuels welcomed political correspondent Tamara Cohen onto the show to share the latest updates from the Treasury select committee in the House of Commons.

She revealed that the politician defended her handling of the economy in front of MP's hours before the UK will be hit by the global impact of US tariffs. Reeves confirmed even if ministers succeed in their mission to secure an exemption for British goods, Brits will still feel the pinch. The MP explained that the governement won't rush into responding to any tariffs that the White House announces later today, telling the board: "First of all, let's see how other countries and other trading blocks respond."

Cohen told viewers: "It's been an incredibly uncertain few months and there's more uncertainty due tonight. In fact, just in the last few minutes before we came on air Rachel Reeves was asked about those tariffs.

"She actually gave quite a big hint that the UK will not going to be retaliating, certainly not any time soon. She said, 'We've been very clear and we're going to approach this in a clear-headed way.

"The UK's big businesses, biggest exporters know the prize on offer is in economic agreement with the US. They don't want to put that in jeopardy". The broadcaster went on: "And she even said, 'We don't want to be posturing here, we don't want to rush into a decision to get a quick headline'."

The presenter added that Reeves spoke to the US treasury secretary to try and get a resolution over time and gave a strong hint that the UK would not be rushing into anything that Donald Trump says tonight. She claimed that it raises the prospect that the UK and the EU are potentially going in different directions.

Reeves went on to warn Brits that she is not ruling out future tax rises, but insists she will not repeat budget on the same "scale" as last year's.

She said that the last budget was a once-in-a-generation tax increase, but reassured MPs: "I can assure the committee I will not need to repeat a budget on that scale because we have now wiped the slate clean and put our public finances on a firm footing."

The 2024 budget raised taxed by approximately £25billion.