LIVERPOOL, England (AP) — Britain’s Treasury chief warned Monday that wars in Ukraine and the Middle East and economic headwinds sparked by U.S. President Donald Trump’s tariffs have worsened the U.K.’s economic outlook since the governing Labour Party won power last year. Chancellor of the Exchequer Rachel Reeves is under pressure to say whether she will raise taxes in her autumn budget on Nov. 26. Since ending 14 years of Conservative rule in July 2024, the Labour government has struggled to deliver the economic growth it promised. Inflation remains stubbornly high and the economic outlook subdued, frustrating efforts to repair tattered public services and ease the cost of living. The Treasury said Reeves’ speech will include a pledge to end long-term youth unemployment, and kickstart the U.K.’s sluggish productivity.