Starmer plans economic support as Trump tariffs impact markets

UK Prime Minister Keir Starmer is set to announce significant support measures for British businesses in response to new tariffs imposed by President Donald Trump, including a 10% levy on British goods and a 25% tax on foreign cars. Starmer emphasized the need for a shift in approach to global trade, stating that 'old assumptions can no longer be taken for granted.' Upcoming government interventions may include regulatory reforms and tax breaks to bolster domestic competitiveness, with the aim of protecting jobs and stimulating economic growth amid a 'new era of global instability.' Jaguar Land Rover has already paused shipments to the US as it navigates the new trading terms. The government is actively negotiating with the US to mitigate the impact of the tariffs, and Starmer is committed to using industrial policy to shelter British businesses from the fallout. A senior Treasury official noted that the UK fared better than other countries, attributing this to strong pre-tariff negotiations.