For many years, the U.S. and U.K. have lauded their “special relationship”, covering everything from trade to military support. This was exemplified with the first deal made following President Trump’s “Liberation Day” tariff announcement: The U.K. agreed to a 10% rate as well as a host of other export opportunities—much more lenient than many other countries.

Speaking at the Fortune Global Forum in Riyadh on Monday, Britain’s Chancellor of the Exchequer, Rachel Reeves, said the current relationship between 10 Downing Street and the White House was built on a shared idea: Concern over imbalances on the global stage.

Few other nations saw such success with the second Trump administration so quickly. The U.S. and China are still at loggerheads ahead of a planned meeting between the preside

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