UK will have a 'constructive dialogue' with Trump, says Hammond

Chancellor Philip Hammond said Britain would have a “constructive dialogue” with Donald Trump as he defended free-trade policies, which are at odds with the president-elect's protectionism.

Hammond said that Britain believes that the best way to protect jobs and promote prosperity is free markets and free trade.

On Wednesday, Trump confounded pollsters and commentators to become the 45th president of the US, beating rival Hillary Clinton in key swing states.

He was elected on a wave of anti-establishment and protectionist rhetoric, and indicated during his campaign that he would slap a 45% tariff on Chinese imports in order to protect US jobs.

Speaking ahead of the UK-China Economic and Financial Dialogue conference in London, Hammond told BBC News: “President Trump has just been elected by the American people. He will want to consult with his advisers, talk to officials and I am sure we will have a very constructive dialogue as we do with the Chinese with the new American administration.'

There have been warnings from the World Trade Organisation that protectionism could hamper growth and he remained committed that the best way to protect jobs and prosperity was free trade and open markets.

However, he said that he also recognises that there are concerns “around dumping and unfair practices”.

“It's about getting the right balance in the global trading system so that we can have the benefits of open markets, while being properly and appropriately protected from unfair practices.”

Hammond said he “looked forward” to working with the new US administration as Britain prepares to leave the European Union.

“We have very strong and close ties with the United States and as we begin the process of negotiating our exit from the European Union, of course we will want to talk to the Americans about future opportunities for deepening our trade links with the United States.”