Prime Minister Keir Starmer has declared ‘the world as we knew it has gone’ ahead of a major speech tomorrow in the wake of Donald Trump’s tariff announcements
The Prime Minister has declared “the world as we knew it has gone” ahead of a major speech tomorrow in the wake of Donald Trump’s tariff announcements.
Keir Starmer will say that globalisation as we know it has ended and vow to “move further and faster” to boost growth in the UK. Over the next week he is expected to ramp up support for British businesses and will announce a raft of measures to grow the economy.
They will reportedly include giving the go-ahead for a British Universal Studios theme park in Milton Keynes, easing regulations on electric car manufacturers and bringing forward parts of the government’s industrial strategy.
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Writing in the Sunday Telegraph, the PM pledged to “help shelter British business from the storm” of US tariffs and to “do everything necessary” to defend the national interest. He said a trade war is in nobody’s interests, after Mr Trump last week unleashed tariffs on countries around the world.
The UK is facing a 10% tariff on all British imports into the US, with a further 25% tariff on all foreign cars sold to the US. Many nations will face even higher levies in the coming days, including the EU, which will see tariffs imposed increase to 20% later in the week. The White House announcements sent markets spiralling, with stock markets falling sharply at the end of last week
Mr Starmer said that this week the government “will turbocharge plans that will improve our domestic competitiveness, so we’re less exposed to these kinds of global shocks”. He wrote: “First it was defence and national security. Now it is the global economy and trade. Old assumptions can no longer be taken for granted. The world as we knew it has gone. We must rise to meet the moment.
“We are ready for what comes next. The new world is less governed by established rules and more by deals and alliances. It demands the best of British virtues – cool heads, pragmatism and a clear understanding of our national interest.”
Chief Secretary to the Treasury Darren Jones this morning said that “we need to go further and faster in supporting British industry and the British economy”, adding that Mr Starmer will “be saying more about that this week”. “There will be further announcements from the Prime Minister this week on support for British business, building off the engagement that we’ve been having with them over the last weeks and months,” he added.
He suggested Brits should be prepared for things to be tougher in the global economy. Asked whether the public should be “prepared for things to be even tougher than they already are”, Mr Jones said: “In the global economy, yes, but on the UK economy we’re trying to get ahead of these challenges.”
The Cabinet minister was also asked if the era of “cheap fast-fashion or cheap TVs” was over, to which he replied: “Yeah, it’s ended. Globalisation, as we’ve known it for the last number of decades, has come to an end.”
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