Sharjah24: The United Kingdom is prepared to intervene directly to protect key industries in response to sweeping US tariffs, Prime Minister Keir Starmer said, signalling a shift in approach amid growing global economic uncertainty.
Starmer's Op-Ed on global trade
In an op-ed published in The Sunday Telegraph, Starmer discussed how recent actions by U.S. President Donald Trump have disrupted long-standing assumptions about global trade, indicating that the world has fundamentally changed.
New global landscape
He noted that the evolving landscape will be shaped more by strategic deals and alliances than by established rules, necessitating a pragmatic approach from the UK grounded in national interest.
Trade war concerns
Starmer reaffirmed his government's position that no country benefits from a trade war, emphasizing the importance of staying composed and negotiating favorable outcomes.
U.S. trade agreement
He stated that a trade agreement with the U.S. would only move forward if it aligns with the interests of British businesses, keeping all options open in response to Washington’s 10 percent tariff on British goods.
Corporate reactions
The tariffs have prompted actions from major companies, such as Jaguar Land Rover, which announced a temporary pause in shipments to the U.S. starting in April to adapt to new trade conditions.
Strengthening domestic competitiveness
Acknowledging the need for a stronger domestic base, the prime minister indicated plans to enhance the UK's industrial competitiveness, ready to utilize industrial policy tools to protect British businesses from global trade disruptions.
Evolving perspectives
Starmer acknowledged that some may be uncomfortable with increased state involvement but argued that adhering to outdated ideas is no longer feasible in a rapidly changing world. A major announcement on industrial strategy is anticipated in the coming days.
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