The UK should not “jump in with both feet” to retaliate against Donald Trump’s trade tariffs, Sir Keir Starmer has said.
The Prime Minister told a group of senior MPs that he was not open to “trading away” the NHS as part of an economic agreement with the US designed to stave off the impact of import taxes.
Sir Keir was also “very clear” that a digital tax on big tech firms should remain in place, as reports suggested abolishing the levy has been raised during negotiations with the US.
The Prime Minister’s call for a calm approach to US tariffs came as a sense of optimism returned to the financial markets after several days of heavy losses.
London’s FTSE 100 index was up 2.71%, or 208.45 points, on 7,910.53 at the close of trading.
In the US, the Dow Jones index and the S&P 500 also made gains while Asian markets rebounded following steep falls in previous days.
Speaking to the Liaison Committee on Tuesday – the last day before MPs’ Easter recess – the Prime Minister continued to call for calm heads.
“My instinct is that we shouldn’t jump in with both feet to retaliate. So in that sense, I’m not changing my plans,” Sir Keir said.
“Obviously we have to keep our options on the table and do the preparatory work for retaliation if necessary. But I think that trying to negotiate an arrangement which mitigates the tariffs is better.”
The tariffs are not a “temporary passing phase” but part of a “changing world order”, the Prime Minister added.
The next stage of US President Donald Trump’s tariffs programme comes into force in the early hours of Wednesday, with import taxes at 20% for goods from European Union nations and 24% from Japan.
The UK Government is pushing for a deal with the White House in the hope of easing the 10% tariff on US imports of British goods, along with a 25% tariff on cars and separate import taxes for steel and aluminium.
Continue reading at Manchester Evening News:
Keir Starmer’s stark eight-word warning as US tariffs begin to bite
https://www.manchestereveningnews.co.uk/news/greater-manchester-news/keir-starmers-stark-eight-word-31365142
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