UK, Japan Weigh Responses as Trump Tariffs Loom

UK Prime Minister Keir Starmer has acknowledged the likelihood of facing tariffs from President Trump's administration, which are set to be unveiled soon. In response to the anticipated economic impact, Starmer emphasized that the government would proceed with 'cool and calm heads,' and while he ruled out immediate retaliation, all options remain on the table. He indicated that the UK is making progress in negotiating a trade deal with the US and hopes that it will mitigate the effects of the tariffs, particularly on the automotive sector, which would be severely impacted by a 25% import tax on cars. Starmer stated that the UK government is prepared and has 'a range of levers' it can use in response, although he stressed the need for a measured approach rather than a knee-jerk reaction. Meanwhile, Japan's Trade Minister has also expressed that Japan is considering all options in response to similar tariffs imposed by the US, which are particularly concerning for its auto industry. Both countries are bracing for economic repercussions as global markets react to the uncertainty surrounding these trade policies.