The Prime Minister has said the government is working with those companies who are likely to be affected by Donald Trump’s tariffs and said they are “prepared for all eventualities.”
At 9pm tonight the US President will announce import tax on goods entering the US from the White House.
The British government are braced for what has been dubbed “Liberation Day” and should the UK be affected by America’s tariffs it will have a damaging impact on economic growth.
At Prime Minister’s Questions Sir Keir Starmer told MPs in the House of Commons, “Let me be clear with the House, a trade war is in nobody’s interests and the country deserves – and we will take – a calm, pragmatic approach.
“That’s why constructive talks are progressing to agree a wider economic prosperity deal with the US.
“That’s why we’re working with all industries and sectors likely to be impacted.
“Our decisions will always be guided by our national interest, and that’s why we have prepared for all eventualities, and we will rule nothing out.”
According to analysis from the Institute for Public Policy Research (IPPR) the US putting 25% tariffs on car imports will put 25,000 jobs at risk which will “completely destabilise the UK car manufacturing industry.”
Pranesh Narayanan, research fellow at the IPPR warned, “Trump’s tariffs have huge potential to completely destabilise the UK car manufacturing industry, affecting tens of thousands of jobs and putting the government’s growth plans.
“However, as one door closes another one opens. There is huge untapped potential in manufacturing green planes, trains and automobiles and selling them at home and abroad.
“If the government use the upcoming industrial strategy to drive investment in these sectors, this could be the spark that leads to thousands of new consumers to buying British and buying green.”
Leave a Comment