Keir Starmer declares end of globalisation amid Trump tariffs

In the wake of new tariffs imposed by US President Donald Trump on various trading partners, including the UK, significant economic consequences are becoming evident. The tariffs, which include a 10% tax on UK goods and a 25% tariff on British carmakers, have caused alarm among British officials. Labour Party leader Sir Keir Starmer responded by stating that the landscape of global trade has fundamentally changed and emphasized the need for the UK to develop robust industrial policies to protect its businesses. Starmer's remarks highlight the seriousness of the situation and the urgency to adapt to new economic realities. As global markets reacted negatively, the EU announced its consideration of retaliatory tariffs on approximately $28 billion worth of US imports. This backdrop of escalating trade tensions has left many industries, especially automotive, scrambling to cope with the implications of these changes. Starmer called for calm amidst the turmoil, pointing out the necessity for a collaborative effort to support affected sectors. The turmoil in the markets was exacerbated by fears of a trade war, which led to sharp declines in stock values across both the UK and US markets. Starmer emphasized that the situation requires effective collaboration and proactive measures to secure the UK's economic future while maintaining the commitment to global free trade. As negotiations continue, the impact of the tariffs and the broader implications for global trade remain uncertain, with calls for coordinated responses from government leaders to navigate this challenging landscape.