Starmer Warns Trump A Trade War 'Is In Nobody's Interest' Ahead Of Tariff Announcement

Keir Starmer and Donald Trump shake hands at a joint press conference in the East Room at the White House in February.Keir Starmer has said a global trade war “is in nobody’s interest” as the world waits to find out the details of Donald Trump’s tariff plan.The US president will make his announcement at 9pm in a special “liberation day” press conference.He has already unveiled plans to slap tariffs – taxes on imports – on foreign steel, as well as a 25% surcharge on cars built abroad.However, he could also impose a blanket 20% tariff on all goods entering America from abroad.Canada and the EU, who have already been told they face tariffs by Trump, have said they will retaliate with import taxes of their own.However, Starmer has so far refused to follow suit as the government is trying to negotiate an economic deal with the US.The prime minister told the Commons on Wednesday: “A trade war is in nobody’s interest and the country deserves, and we will take, a calm, pragmatic approach.“That is why constructive talks are progressing to agree a wider economic prosperity deal with the US. That is why we are working with all industries and sectors likely to be impacted.“Our decisions will always be guided by our national interests, and that’s why we have prepared for all eventualities, and we will rule nothing out.”Chancellor Rachel Reeves told the Commons Treasury select committee that the UK would not be “posturing” in response to Trump’s announcement.She said: “The prize on offer is a good economic agreement between us and the United States.“We are not going to do anything to put that in jeopardy, we are not going to rush into action to get a quick headline.”The Office for Budget Responsibility has warned that a trade war will reduce the size of the UK economy and wipe out the “fiscal headroom” – spare money – Reeves had hoped to have by the next election.Reeves also told MPs that the UK will be damaged even if it does agree a trade deal with Trump.She said: “Even if that’s possible, [it] doesn’t mean somehow that we are out of the woods and not impacted by tariffs.“So we don’t just want to see an agreement between the UK and the US, we want to see free trade, fair trade continue.”Related...Trump's Incoming Tariffs Are Petty – But Here's Why 'Liberation Day' Deserves Your AttentionUK Is Expecting To Be Hit With Trump Tariffs – But Has Not Ruled Out Retaliation, No.10 SaysTrump Says He 'Couldn't Care Less' If His Tariffs Push Up Car Prices