UK PM Starmer, European leaders call US tariffs ‘new era for global economy’

LONDON: Following US President Donald Trump’s reciprocal tariff move, UK Prime Minister Keir Starmer engaged in discussions with key international leaders, including European Commission President Ursula von der Leyen, and German Chancellor Olaf Scholz, with all the leaders saying that this marks a “new era for the global economy.”

In a statement released on Sunday, Downing Street stated, “The Prime Minister has today continued to speak with international leaders including the President of the European Commission Ursula von der Leyen, German Chancellor Olaf Scholz and leader of the German Christian Democratic Union party Friedrich Merz.”

“Discussing the announcement of additional tariffs by the United States, 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 statement added.

Starmer also expressed disappointment over the new tariffs but emphasised that the UK would continue to act in its “national interest,” working to strengthen its economy and global trade relationships.

The Downing Street further said, “The UK 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.”

Meanwhile, in a post on X, Ursula von der Leyen wrote, “Just spoke with @Keir_Starmer and shared my concern over the impact of the US tariffs on the global economy. We also discussed security and defence and the upcoming EU-UK Summit.”
https://x.com/vonderleyen/status/1908874719618576873

On April 2, Trump announced widespread tariffs on countries worldwide. In February, soon after taking charge for the second time, Trump outlined a new trade policy focused on fairness and reciprocity and said that the US would implement reciprocal tariffs, charging other countries the same tariffs they impose on American goods.

As per the announcements, the import tariffs on other major countries are China (34 per cent), the European Union (20 per cent), Vietnam (46 per cent), Taiwan (32 per cent), Japan (24 per cent), India (26 per cent), the United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), and Israel (17 per cent).

From April 9 onwards, countries with the largest trade deficits with the US will face higher, individualised tariffs. India is one of the countries affected, with a 26 per cent tariff imposed on all its exports. (ANI)