Keir Starmer and Rachel Reeves have underlined how much the world has changed after Donald Trump’s “liberation day”, with the UK prime minister even declaring an end to globalisation. But as the chancellor prepares to fly to Washington this week to meet her global counterparts at the International Monetary Fund meetings, Labour appears to see the risks purely in terms of the hit to international trade. While frantically negotiating with Washington over tariffs, the government is pressing ahead with plans to deregulate the City – just as global financial stability appears threatened by the chaos unleashed by the White House.
How support for Labour crumbled in Britain in 2025 with Rachel Reeves’ popularity plunging
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