The UK and EU are set to sign a joint declaration committing to "free and open trade" after a month of economic turmoil sparked by Donald Trump's tariff rollout.
In a sign that Labour's "relations reset" with Brussels may be coming to a head, a draft statement commits to "a new strategic partnership" between the two parties based on the "shared principles of maintaining global economic stability".
"We confirmed our shared principles of maintaining global economic stability and our mutual commitment to free and open trade," the document says, according to Politico.
And in a development which may raise eyebrows on the British right, the declaration also heaps support on the United Nations charter and the European Convention on Human Rights - which Tory and Reform UK heavyweights have all opposed.
The draft statement commits to 'a new strategic partnership' between the UK and EU
PA
Elsewhere, officials are negotiating UK-EU agreements on defence, security, energy, and fishing rights - alongside trying to come to a "common understanding" on which topics will be discussed in "Brexit reset" negotiations later this year.
EU ambassadors are set to meet on Wednesday in Brussels to review how talks are going.
But all eyes are on May 19 - the date of a key summit between Britain and the bloc, when the declaration will likely be signed.
Later on Tuesday, the Cabinet Office hit back at reports the "free and open trade" declaration was a rebuke to Donald Trump.
LATEST ON LABOUR'S 'RELATIONS RESET':
The Cabinet Office hit back at reports the 'free and open trade' declaration was a rebuke to Donald Trump
REUTERSThe draft is said to make no explicit mention of the US President - despite its direct attack on trade restrictions, which include his highly controversial tariffs.
A Government spokesman said: "The Government rejects the premise that it must choose between our European and American allies."
Following the Cabinet Office remarks, ministers were in talks with the EU's trade commissioner as Labours "reset" rumbled on.
Business Secretary Jonathan Reynold met with the EU's Maros Sefcovic in London today
PABusiness Secretary Jonathan Reynolds and Nick Thomas-Symonds, the minister in charge of EU negotiations, met with the EU's Maros Sefcovic in London.
Sefcovic called it a "productive exchange on securing balanced trade relationships" ahead of the May summit.
"We discussed the state of international trade and the road ahead," he said.
Thomas-Symonds said the talks were to "review progress" ahead of the summit.
