'End of globalisation'? UK PM Keir Starmer's BIG announcement as Trump's disastrous tariffs shake markets
World: The UK does not agree with Trump's 10 per cent "baseline" tariffs and other recent protectionist measures, a senior UK official told the publication.
United Kingdom's Prime Minister Keir Starmer is set to declare an end to the era of 'globalisation' after US President Donald Trump's massive reciprocal tariffs that has triggered a global trade war, according to a report by The Times.
The UK PM will address the nation on Monday, where he is likely to admit that globalisation, which started after the fall of the Soviet Union in 1991, has "failed" millions of voters and acknowledge why Trump's economic nationalism is popular among his supporters.
The UK does not agree with Trump's 10 per cent "baseline" tariffs and other recent protectionist measures, a senior UK official told the publication.
“Trump has done something that we don’t agree with but there’s a reason why people are behind him on this. The world has changed, globalisation is over, and we are now in a new era,” the official said.
"We've got to demonstrate that our approach, a more active Labour government, a more reformist government, can provide the answers for people in every part of this country," the official added.
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Moreover, Starmer will also announce protective measures for the British economy in the upcoming week amid Trump's ongoing tariff war, Bloomberg reported.
Also read: 'Following Trump's footsteps': UK minister resigns over Keir Starmer's historic foreign aid cut
“The world as we knew it has gone. We must rise to meet the moment,” said Keir Starmer cited the news agency quoting the Telegraph.
Notably, Monday's address will be Starmer's first significant intervention since Trump imposed retaliatory tariffs on April 2.
During the address, he will acknowledge that the seismic global economic effects prove that the UK must "move further and faster" to boost growth with supply-side reforms.
Moreover, later this week, the UK government is also planning to make pro-growth announcements, including easing regulations on electric car manufacturers and bringing forward parts of the government's industrial strategy.
Also, the UK will also hold an "economic and financial dialogue" with India on Wednesday to try to break a trade deal.
(With inputs from agencies)
