UK Prime Minister Keir Starmer says he’s prepared to use industrial policy to “shelter British business from the storm” following Donald Trump’s new tariffs.
It comes after a 10% “baseline” tariff on imports to the US took effect on Saturday.
Starmer says he will continue to seek an economic deal with the US to avoid some tariffs, but mooted state intervention.
Experts warn the tariffs could push up prices for consumers, but Trump urges the US to “hang tough” after market turmoil.
However, Elon Musk, one of Trump’s closest advisers, says he hopes for a “zero-tariff situation” between the US and Europe.
SOURCE: BBC