Starmer asserts UK’s 'national interest' in future US trade deals
(MENAFN) On Monday, British Prime Minister Keir Starmer asserted that any forthcoming trade agreement with the United States would only be pursued if it serves the UK's "national interest." His comments came as he warned of the considerable obstacles presented by tariffs enacted during President Trump's administration.
Starmer pointed to new import duties, such as a 10 percent "baseline" import tax and a 25% tariff on British automobiles, describing these measures as a "huge challenge for our future." He stated, "We will only strike a deal if it's in the national interest," reiterating his commitment to ensuring "strength abroad, security and renewal at home."
The UK government is actively working to negotiate a trade agreement with the US to alleviate the effects of these tariffs. Additionally, discussions are reportedly taking place regarding potential changes to taxes on large tech companies as part of a comprehensive trade strategy.
In an effort to reassure the public, Starmer emphasized that there would be no trade deal "at any price." He made these remarks during a visit to a Jaguar Land Rover facility in Solihull, highlighting the importance of supporting the UK's automotive industry. "These are challenging times, but we have chosen to come here because we are going to back you to the hilt," he remarked, calling the visit a "statement of intent" about the government's industrial policies.
The economic landscape is marked by a global downturn, with US stock markets experiencing a notable decline of 4.4% to 5%, driven by rising concerns over a potential worldwide recession. In response, the UK government has unveiled initiatives to bolster its domestic automotive sector, including easing targets for electric and hybrid vehicles and committing £2.3 billion to enhance electric vehicle adoption and charging infrastructure.
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