Sir Keir Starmer said that his government was ready to use industrial policy to “shelter British storm affairs” after the new 10% price of Donald Trump.
The United Kingdom was part of a certain number of countries affected with the lowest importing rights rate The president’s announcement on April 2 – which he called “Liberation Day”While other nations, such as Vietnam, Cambodia and China, face much higher American samples.
But a world trade war will harm the open economy of the United Kingdom.
The Prime Minister said that “these new times require a new mentality”, after the 10% tax on British imports to America entered into force SATURDAY. An American sample of 25% on all imports of foreign cars was introduced on Thursday.
It comes like Jaguar Land Rover announced that he would “take a break” for the United States for a month, while businesses attack new taxes.
On Saturday, the automaker said that he was working to “resolve the new trading conditions” and sought to “develop our medium -term plans”.
Please use Chrome Browser for a more accessible video player
Referring to prices, Sir Keir said “the immediate priority is to stay calm and fight for the best offer”.
Writing in the Sunday Telegraph, he said that in the coming days “we will kill plans that will improve our domestic competitiveness”, adding: “We are ready to use industrial policy to help shelter British storm affairs.”
It is believed that a number of announcements could be made as soon as ministers seek to encourage growth.
The contribution rate or for employers increases
From Sunday, the employer’s NIC rate (national insurance contributions) increased from 13.8% to 15%.
At the same time, companies will also pay more because the government has lowered the salary threshold to which companies are starting to pay the NIC from £ 9,100 to £ 5,000.
Also, the FTSE 100 of large British companies Had his worst day of negotiation since the start of the pandemic on FridayWith banks among some of the companies to undergo the strongest losses.
Sir Keir said: “This week, the government will do everything necessary to protect the national interest of Great Britain. Because when global economic sands change, our laser focuses on the delivery of Great Britain. And these new times require a new mentality.”
Please use Chrome Browser for a more accessible video player
United Kingdom spared the highest rates of prices
Some of the highest rates have been applied to “worst offenders” countries, some of which in Southeast Asia. Imports from Cambodia will be subject to a rate of 49%, while those of Vietnam will face a rate of 46%. Chinese products will be struck by a rate of 34%.
Imports in France will have a tariff of 20%, the rate that has been set for European Union countries. These will come into force on April 9.
Find out more:
Red wall on Wall Street – But Trump has not discouraged
How will the United Kingdom react to Trump’s prices?
Sir Keir spoke to foreign leaders on the phone during the weekend, notably French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni and Australian Prime Minister Anthony Albanian, to discuss pricing changes.
A Downing Street spokesperson said about the conversation between Sir Keir and Mr. Macron: “They agreed that a trade war was in anyone’s interests, but nothing should be outside the table and that it was important to keep businesses up to date on developments.
“The Prime Minister and the President also shared their concerns about economic impact and world security, especially in Southeast Asia.”
👉 Follow Trump 100 on your podcast application 👈
Trump’s warning
Trump warned the Americans that the prices “will not be easy”, but have urged them to “suspend”.
In an article on his Truth social platform, he said: “We bring jobs and businesses like never before.
“Already, more than five billions of dollars in investment and rapid rise!
“It is an economic revolution, and we will win. Hanging hard, it will not be easy, but the end result will be historic. ”