Sir Keir Starmer has reiterated his disappointment over Donald Trump’s new tariffs in further calls with world leaders (Picture: AP)
Sir Keir Starmer accused Donald Trump of ending the ‘world as we knew it’ with his sweeping global tariffs after stressing that ‘nobody wins from a trade war’.
Wall Street braces for more chaos after £4.6 trillion of its value was wiped out in just a few days. British firms are warning of price rises. Dozens of affected countries have requested trade talks with US.
What Trump is doing in the meantime? Unconcerned by the carnage he has caused, the president spent most of the weekend at his National Golf Club in Jupiter, Florida, playing golf.
As there sis no sign that the US will do a U-turn, Sir Keir said in an opinion piece for the Sunday Telegraph: ‘The world as we knew it has gone.
‘Old assumptions can no longer be taken for granted.’
The new world will be governed less by the established rules and ‘more by deals and alliances’, added the prime minister.
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He added: ‘That is why on tariffs, the immediate priority is to keep calm and fight for the best deal. Nobody wins from a trade war. The economic consequences, here and across the globe, could be profound.
‘We already have a balanced trading relationship with our American allies and work continues on a new economic prosperity deal. Nonetheless, all options remain on the table.’
A trader works on the floor of the New York Stock Exchange om April 4, 2025, in New York (Picture: AFP)
The UK has so far got off relatively lightly with a 10 percent tariff – for now.
It is unclear if Trump is open to negotiations, but on Friday he suggested he was not, writing on Truth Social: ‘My policies will never change.’
Sir Keir said the country’s response ‘demands the best of British virtues – cool heads, pragmatism and a clear understanding of our national interest’.
He has vowed to work with the UK’s European allies to ‘help maintain wider economic stability’ and later spoke with world leaders including European Commission President Ursula von der Leyen and German Chancellor Olaf Scholz.
After their call, von der Leyen confirmed the European Union is prepared to defend its interests with proportionate countermeasures against Trump’s tariffs and will work with partners towards this end.
World financial markets are continuing to react to reciprocal tariffs that Trump implemented this week (Picture: EPA)
Issuing a readout of their conversations, a Downing Street spokesperson said: ‘Discussing the announcement of additional tariffs by the US, they all agreed that – as with defence and security – this is a new era for the global economy.
‘Europe must rise to meet the moment and ensure the impact on hard-working people is minimised, while working closely with other countries to help maintain wider economic stability.
‘The PM reiterated that he was disappointed by the new tariffs and stressed he will continue to act in the UK’s national interest – remaining calm while preparing for all eventualities.
‘He updated on his plans to go further and faster to strengthen the UK’s economy and ensure it is as resilient as possible and can withstand these kinds of global shocks.
‘He added that it would be important for the UK to strengthen its trading relationships with others across the globe at the same time.’
Von der Leyen will meet the PM in London on April 24 on the occasion of the International Summit on the Future of Energy Security.
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