Cliff Notes
- Sir Keir Starmer announced his government’s readiness to implement industrial policies to protect British businesses from the impact of new 10% tariffs on UK imports to the US.
- Jaguar Land Rover has paused shipments to the US for a month, indicating challenges that companies face under the new tariff framework.
- Starmer emphasised the need for a “new mentality” in response to global economic shifts, urging collaboration with international leaders to safeguard national interests.
PM pledges to protect UK companies from Trump tariffs | UK News
Sir Keir Starmer has said his government stands ready to use industrial policy to “shelter British business from the storm” after Donald Trump’s new 10% tariff kicked in.
The UK was among a number of countries hit with the lowest import duty rate following the president’s announcement on 2 April – which he called ‘Liberation Day’, while other nations, such as Vietnam, Cambodia and China face much higher US levies.
But a global trade war will hurt the UK’s open Economy.
The prime minister said “these new times demand a new mentality”, after the 10% tax on British imports into America came into force on Saturday. A 25% US levy on all foreign car imports was introduced on Thursday.
It comes as Jaguar Land Rover announced it would “pause” shipments to the US for a month, as firms grapple with the new taxes.
On Saturday, the car manufacturer said it was working to “address the new trading terms” and was looking to “develop our mid to longer-term plans”.
Starmer vows to protect UK businesses from tariff ‘storm’ – BBC News
Trump tariffs live: Asian markets plummet further with Hong Kong stocks down almost 10% – The Independent
Sir Keir Starmer pledges to protect UK companies from Trump tariff ‘storm’ – Sky News