New global tariffs imposed by the US will have ‘profound’ economic consequences, the British prime minister warns.British Prime Minister Keir Starmer says the introduction of sweeping global tariffs by the United States has created a “new world” governed by “deals and alliances” rather than rules.
Starmer made the remarks in an opinion piece published in The Sunday Telegraph newspaper as countries around the world braced for further fallout from US President Donald Trump’s new tariff regime, which sent markets plummeting at the end of last week.
“The world as we knew it has gone. Old assumptions can no longer be taken for granted,” Starmer wrote.
Trump’s 10 percent baseline import tax on goods from around the world kicked in on Saturday. While the United Kingdom has got off relatively lightly with the 10 percent tariff, many nations face even higher levies in the coming days.
“This is an economic revolution, and we will win,” the US president wrote on his social media platform, Truth Social, on Saturday. “Hang tough, it won’t be easy, but the end result will be historic.”
Starmer disagreed. “Nobody wins from a trade war,” he said, describing “profound ” economic consequences from Trump’s trade offensive and signalling that “all options remain on the table” in responding to the tariffs. Advertisement
End of globalisation
On Sunday, Darren Jones, chief secretary to the UK Treasury, said on the BBC’s Sunday with Laura Kuenssberg programme that “globalisation as we’ve known it for the last number of decades” had in effect come to an end.
UK ministers had been reluctant to criticise the Trump administration in the wake of the tariffs as officials have been in talks with the US in recent weeks in the hope of securing a trade deal with Washington.
Starmer insisted in his opinion piece that a trade deal will be struck with the US only “if it is right for British business and the security of working people”, insisting that he would “continue to make the case for free and open trade”.
Trump’s 34-percent tariff on Chinese goods is set to kick in next week, triggering Beijing’s announcement of a 34-percent levy on US products from Thursday.
The European Union and Japan are also among about 60 US trading partners set to face higher rates on Wednesday, raising fears of recessions in some of the world’s leading economies.
Trump’s announcement of the tariffs on Wednesday has sent countries scrambling for a response. Zimbabwean President Emmerson Mnangagwa announced on Saturday that he would suspend all tariffs on goods imported from the US after being hit with an 18-percent levy.
On Sunday, Indonesian Chief Economic Minister Airlangga Hartarto said in a statement that his country, Southeast Asia’s largest economy, would not retaliate against Trump’s 32-percent tariff, which is to take effect on Wednesday. Advertisement
“The approach was taken by considering the long-term interest of bilateral trade relation, as well as to maintain the investment climate and national economic stability,” he said, adding that Jakarta will support potentially impacted sectors, such as the apparel and footwear industry.
The new levies mark “the most sweeping tariff hike since the Smoot-Hawley Tariff Act, the 1930 law best remembered for triggering a global trade war and deepening the Great Depression”, said the Center for Strategic and International Studies, a think tank based in Washington, DC.
New global tariffs imposed by the US will have ‘profound’ economic consequences, the British prime minister warns.British Prime Minister Keir Starmer says the introduction of sweeping global tariffs by the United States has created a “new world” governed by “deals and alliances” rather than rules.
Starmer made the remarks in an opinion piece published in The Sunday Telegraph newspaper as countries around the world braced for further fallout from US President Donald Trump’s new tariff regime, which sent markets plummeting at the end of last week.
“The world as we knew it has gone. Old assumptions can no longer be taken for granted,” Starmer wrote.
Trump’s 10 percent baseline import tax on goods from around the world kicked in on Saturday. While the United Kingdom has got off relatively lightly with the 10 percent tariff, many nations face even higher levies in the coming days.
“This is an economic revolution, and we will win,” the US president wrote on his social media platform, Truth Social, on Saturday. “Hang tough, it won’t be easy, but the end result will be historic.”
Starmer disagreed. “Nobody wins from a trade war,” he said, describing “profound ” economic consequences from Trump’s trade offensive and signalling that “all options remain on the table” in responding to the tariffs. Advertisement
End of globalisation
On Sunday, Darren Jones, chief secretary to the UK Treasury, said on the BBC’s Sunday with Laura Kuenssberg programme that “globalisation as we’ve known it for the last number of decades” had in effect come to an end.
UK ministers had been reluctant to criticise the Trump administration in the wake of the tariffs as officials have been in talks with the US in recent weeks in the hope of securing a trade deal with Washington.
Starmer insisted in his opinion piece that a trade deal will be struck with the US only “if it is right for British business and the security of working people”, insisting that he would “continue to make the case for free and open trade”.
Trump’s 34-percent tariff on Chinese goods is set to kick in next week, triggering Beijing’s announcement of a 34-percent levy on US products from Thursday.
The European Union and Japan are also among about 60 US trading partners set to face higher rates on Wednesday, raising fears of recessions in some of the world’s leading economies.
Trump’s announcement of the tariffs on Wednesday has sent countries scrambling for a response. Zimbabwean President Emmerson Mnangagwa announced on Saturday that he would suspend all tariffs on goods imported from the US after being hit with an 18-percent levy.
On Sunday, Indonesian Chief Economic Minister Airlangga Hartarto said in a statement that his country, Southeast Asia’s largest economy, would not retaliate against Trump’s 32-percent tariff, which is to take effect on Wednesday. Advertisement
“The approach was taken by considering the long-term interest of bilateral trade relation, as well as to maintain the investment climate and national economic stability,” he said, adding that Jakarta will support potentially impacted sectors, such as the apparel and footwear industry.
The new levies mark “the most sweeping tariff hike since the Smoot-Hawley Tariff Act, the 1930 law best remembered for triggering a global trade war and deepening the Great Depression”, said the Center for Strategic and International Studies, a think tank based in Washington, DC.
ISTANBUL — The arrest of an opposition presidential candidate last month has triggered Turkey’s largest anti-government protests in more than a decade, uniting demonstrators from different walks of life and sometimes diametrically opposed political views.It includes supporters of popular Istanbul Mayor Ekrem Imamoglu, and young people who see all politicians as ineffective. Protesters range from the socialist left to the ultra-nationalist right, and from university students to retirees. They are united by a sense that the government of President Recep Tayyip Erdogan has grown increasingly authoritarian, diminishing the secular and democratic values and laws that the country was built upon. They are fueled by outrage at Imamoglu’s arrest and the government’s attempts to quell the ensuing protests.The protests began after the government arrested Imamoglu, the man seen as posing the most serious electoral challenge to Erdogan in years, on March 19. Prosecutors accuse him of corruption and aiding an outlawed Kurdish organization. Critics say the charges are an excuse to get a key rival out of the way, but the government denies interfering with the legal process.The largest protests have happened alongside rallies of Imamoglu’s center-left pro-secularist Republican People’s Party, known as the CHP, but many young protesters said they don’t support the party. Ogulcan Akti, a 26-year-old university student working two part-time jobs to support his family, said both the opposition and the ruling party are “liars.”“The ones in power and the opposition that will come later, they’re all the same,” he said. “We don’t trust anyone.”In the days after the mayor’s arrest, thousands of students converged near Istanbul city hall. Some waved Turkish flags; others held images of left-wing figures from the 1970s and sang a Turkish version of the Italian protest song “Bella ciao.”In images on social media, some protesters made the ultranationalist “grey wolf” hand sign, standing next to others showing the leftists’ raised fist. Some showed the peace sign favored by both leftists and pro-Kurdish groups, while others chanted slogans attacking the banned militant Kurdistan Workers’ Party.Berk Esen, an associate professor of political science at Sabanci University, said most protesters he has seen are educated, urban young people aged 18 to 25, but they have little else in common: “This is a much more amorphous, eclectic group politically,” he said.One afternoon last week, dozens of students from Bogazici University gathered at a metro station in Istanbul, many wearing masks to avoid reprisals or arrest.More than 2,000 people, including journalists, have been detained since the protests began. Around 300 were formally arrested on charges including “joining an illegal protest” and “resisting the police,” with some accused of “terrorism links.”Lawyers for the arrested students say that the charge of “joining an illegal protest” does not justify extended detention, and that the number of arrests is “unusually high” compared to offenses such as terrorism or drugs. At the metro station, 22-year-old management student Burak Turan and his girlfriend slipped into a mall, watching officers detain dozens of protesters.“We are here because so many students are getting arrested for no reason,” Turan said. “They act like it’s a war; they are exercising wartime laws.” Turan refused to wear a mask, saying he had nothing to be ashamed of.Other protesters include public employees, artists and retirees, many of whom support the CHP.A man in his 60s watching a standoff at city hall said he was there to defend the rights of the younger generation. “We don’t matter, they do. They are our future.” he said.Others were there to speak out against as what they perceived as a slide away from Turkey’s secular and democratic values under Erdogan.Mehtap Bozkurt, a 70-year-old pensioner and a CHP supporter, joined a protest outside Istanbul city hall.“This country is secular and will remain secular,” she said. “We will resist until the end. I am ready to give my life and blood for this issue.”That doesn’t mean that people protesting aren’t practicing Muslims, said Esen, the Sabanci academic. “There are Muslims, religious people and those who at least perform some religious duties amongst the protesters,” he said. “But they also probably define themselves as secular.”Outside the courts in Istanbul, parents and relatives, some holding flowers, maintained an anxious vigil. Some hoped for a loved one’s immediate release, while others were overcome with frustration. One family member, who asked to remain anonymous fearing reprisals from officials, told local media that the detained students had “studied day and night to get into the best universities.”“Look at the treatment they are receiving now. There are no rights. There is no law. There is no justice,” she said.Another woman showed journalists a picture of her son with a black eye. “He told me, ‘Mom, they beat me up,’” she said tearfully. Another woman said she was a cancer patient left waiting since dawn. “What did these kids do? Did they murder someone? What did they even do?”Around 300 protesters spent the Eid holiday in prison, separated from their families. Lawyers for several protesters told The Associated Press that students are held in overcrowded cells and face physical and verbal mistreatment, as well as limited access to meals since prison commissaries are closed for Eid. Lawyers also fear that students could miss exams or be expelled as a “punishment” for taking part in the protests.On Thursday the police issued a statement describing as “vile slander” claims that women had been sexually assaulted in custody. The Interior Ministry said that at least 150 police officers were injured in clashes with demonstrators. Images from the protests showed riot police using tear gas and plastic pellets, while students threw plastic water bottles and flares.Esen says the protests may mark a pivotal moment for Turkey.“Will the police violence used by the government against them make them throw in the towel after a certain point or will it bring about a bigger showdown and make this a long-term affair? If the latter happens, I will be very optimistic about Turkey becoming democratic again. If the former happens, all of this is heading toward a very bad place,” he said. A young female protester wearing a mask watched the standoff with police unfolding near city hall last week.“I am here today because I do not accept autocracy,” she said. “Ekrem Imamoglu’s arrest means that we accept that there will be no more elections in this country. I do not accept this.”
Eight people have been charged with corruption, money laundering and participation in a criminal organization following a probe into suspected bribery at the European Parliament, Belgium’s public prosecutor said in a statement on Friday.The charges come after Belgian prosecutors said on March 13 they had detained several individuals over suspected bribery in the European Parliament allegedly for the benefit of China’s Huawei.HUAWEI BUILDING SECRET CHIP NETWORK TO DODGE US SANCTIONS: REPORTOn March 13, Belgian investigators raided 21 premises across Belgium and in Portugal and a judge has since requested that the offices of two parliamentary assistants be sealed. Flags from the 27 countries of the EU fly in the wind in front of the European Parliament on April 5, 2025, in Brussels, Belgium. (Thierry Monasse/Getty Images)The Belgian prosecutors said the alleged corruption had taken place “very discreetly” since 2021 under the guise of commercial lobbying and involved payments for taking political positions or excessive gifts such as food and travel expenses or regular invitations to football matches.Prosecutors have said the alleged bribery is said to have benefited Huawei.Huawei has said it takes the allegations seriously and would urgently communicate with authorities to fully understand the situation. It has also said it has a zero-tolerance policy towards corruption or other wrongdoing.The prosecutor’s office said on Friday that among the eight people charged, three were being kept under electronic surveillance, two have been released and three remain under arrest.It gave no further information.The European Parliament has said it had received a request from Belgian authorities to assist with the investigation, and that it would swiftly and fully comply with it.CLICK HERE TO GET THE FOX NEWS APPAt the end of 2022, the EU was rocked by the ‘Qatargate’ cash-for-influence scandal after Belgian authorities charged four people linked to the European Parliament on suspicions that Qatar and Morocco bribed politicians, parliamentary assistants and non-governmental organizations to influence decision-making in the EU assembly.That investigation is still ongoing.
Here is some more reaction to the tariffs from London, where ministers are weighing up a response to Trump’s higher levies.Darren Jones, chief secretary to the Treasury, has been speaking to Laura Kuenssberg on her BBC Sunday politics programme. Here is a roundup of what he said:
People should be prepared for things to be tougher in the global economy.
Globalisation has “come to an end” in the wake of the new tariffs. Asked if the era of “cheap fast-fashion or cheap TVs” was over, Jones said: “Yeah, it’s ended. Globalisation, as we’ve known it for the last number of decades, has come to an end.”
It is in the best interest of the British economy and workers to “get trade deals across the line”.
Jones said the government thinks a deal with Trump on tariffs can be reached, with talks ongoing. “We’re hoping to do a deal,” Jones said, adding that “we have a better outcome than other comparable countries as a consequence of our diplomacy”.
Ted Cruz, the US senator from Texas, has warned that his fellow Republicans risk a “bloodbath” in the 2026 midterm elections if Donald Trump’s “liberation day” tariffs cause a recession.Cruz also warned that the president’s tariffs, if they stay in place for long and are met by global retaliation on American goods, could trigger a full-blown trade war that “would destroy jobs here at home, and do real damage to the US economy”.“A hundred years ago, the US economy didn’t have the leverage to have the kind of impact we do now. But I worry, there are voices within the administration that want to see these tariffs continue for ever and ever,” he added.The Texan’s comments, made on his Verdict podcast on Friday, were a further sign that the imposition of global “reciprocal” duties on imported goods is causing unease among Republicans.The Republican US senator Chuck Grassley of Iowa introduced bipartisan legislation on Thursday to grant Congress more power over placing tariffs on US trading nations. The bill, co-sponsored by the Democratic senator Maria Cantwell, would “reaffirm” the role of Congress in setting and approving trade policy.You can read the full story here:Crowds of people angry about the way Donald Trump is running the US rallied in scores of American cities on Saturday in the biggest day of demonstrations yet by an opposition movement.The so-called “Hands Off!” demonstrations were held in more than 1,200 locations in all 50 states by more than 150 groups, including civil rights organizations, labor unions, LBGTQ+ advocates, veterans and elections activists.Demonstrators voiced anger over the administration’s moves to fire thousands of federal workers, close social security administration field offices, effectively shutter entire agencies, deport immigrants, scale back protections for transgender people and cut funding for health programs.Coming days after Trump’s tariff announcement, gatherings were also held outside the US, including in the European capital cities of London, Paris and Berlin, with many protestors there also expressing anger over the president’s new trade policies. Here are some pictures of the demonstrations:India does not plan to retaliate against Donald Trump’s 26% tariff on its exports into the US, an Indian government official told Reuters, citing ongoing talks for a deal between the countries.Narendra Modi’s administration has looked into a clause of Trump’s tariff order that offers a possible reprieve for trading partners who “take significant steps to remedy non-reciprocal trade arrangements”, said the official, who declined to be named as the details of the talks are confidential.New Delhi sees an advantage in being one of the first nations to have started talks over a trade deal with Washington, and is better placed than Asian peers like China, Vietnam, and Indonesia, which have been hit by higher US tariffs, a second government official told the news wire, also declining to be named.While the US appears set to avoid reciprocal tariffs from India, Taiwan and Indonesia the response from the European Union could be very different as it discusses imposing extra duties on US goods this week. China has already imposed 34% retaliatory tariffs.One of the most wilfully destructive aspects of Donald Trump’s shock and awe trade policy is the imposition of punitive tariffs on developing countries across Asia, including rates of 49% for Cambodia, 37% for Bangladesh, 48% for Laos.For decades Washington had championed economic development through trade. Now, at the same time as slashing overseas aid budgets and retreating from its role in supporting developing nations, it is ripping up that idea entirely.In its place, Trump intends to impose his will on the US’s trading partners. Some are all but powerless to exact concessions, given their small size, and dependence on the mighty American market.Alice Oyaro, the chief executive at the charity Transform Trade, which works with producers in some of the worst-hit countries, says: “Our biggest concern is that the additional costs are pushed down to those in the supply chain who are least able to pay. Small farmers exporting everything from green beans to cocoa, and women workers in Bangladeshi factories are already finding it hard to make ends meet. They will see their incomes squeezed even more.”You can read the full piece from our economics editor hereVietnam’s leader has requested a delay of “at least 45 days” to tariffs due to be imposed by the United States on 9 April, according to a copy of a signed letter seen by Agence France-Presse, the wire service reported on Sunday.The south-east Asian nation is facing 46% US tariffs, one of the highest levels imposed by Donald Trump.To Lam called on Trump in the letter to assign a representative to work with Vietnam’s deputy prime minister, Ho Duc Phoc, on resolving the issue, adding that he hoped to meet Trump personally in Washington at the end of May.Taiwan’s president has now said there are no plans for reciprocal trade tariffs against the US.Reuters reports that the 32% tariffs on Taiwanese goods announced by Donald Trump do not apply to semiconductors, a major export for the country.Meeting executives from small and medium-sized companies at his residence, the president, Lai Ching-te, said given Taiwan’s dependence on trade the economy would inevitably have a hard time dealing with the tariffs, but that he thought the impact could be minimised.“In the face of the US ‘reciprocal tariffs’, Taiwan has no plans to take tariff retaliation, and there will be no change in the investment commitments of enterprises to the United States as long as they are in the national interest,” he said, in comments provided by his office.Taiwan’s TSMC, the world’s largest contract chipmaker, last month announced an additional $100bn investment in the US.Taiwan will now work to remove trade barriers and have other companies gradually increase their US investments. “In the future, in addition to TSMC’s increased investment, other industries, such as electronics, information and communications, petrochemicals, and natural gas will be able to increase investment in the US and deepen Taiwan-US industrial cooperation,” Lai said.As we mentioned in an earlier post, Taiwan, for whom the US is the island’s most important international backer in the face of mounting Chinese pressure over Beijing’s sovereignty claims, has not announced any retaliatory tariffs.But the country’s president, Lai Ching-te, said his government will remove trade barriers and Taiwanese companies will gradually increase their domestic investments. We will give you more information on this as we get it.Taiwan, which faces a new 32% tariff rate from the US, has already announced T$88bn ($2.67bn; £2.1bn) in assistance for affected companies.Taiwan runs a large trade surplus with the US. Taiwanese officials have repeatedly said trade with America has been skewed by strong demand for Taiwanese technology products, such as advanced semiconductors – a sector dominated by the island.Elon Musk, who heads the so-called department of government efficiency as one of Donald Trump’s closest advisers, has said he hopes to see complete freedom of trade between the US and Europe.The Tesla CEO and owner of X was speaking via video-link at a congress in Florence of Italy’s right-wing, co-ruling League Party on Saturday. He was being interviewed by Italy’s hard-line deputy prime minister Matteo Salvini.“At the end of the day, I hope it’s agreed that both Europe and the United States should move ideally, in my view, to a zero tariff situation, effectively creating a free trade zone between Europe and North America,” the billionaire said.“And more freedom for people to move between Europe and North America, if they wish,” Musk said, adding, “that has certainly been my advice to the president”.Italian Prime Minister Giorgia Meloni said on Thursday that the US’s trade tariffs were a mistake but their impact should not be overestimated and the reaction needed to be carefully considered.The Bank of Italy said on Friday the euro zone’s third largest economy would grow by just 0.5% this year, less than half the government’s 1.2% forecast made in September.High-debt Italy has committed to bringing its deficit below the EU’s 3% of gross domestic product ceiling in 2026 from 3.4% in 2024, a task made harder by its faltering economic growth.
Indonesia, Southeast Asia’s largest economy which faces a 32% tariff rate, said it will not retaliate against the levies and would instead pursue diplomacy and negotiations to find mutually beneficial solutions. Jakarta has said it would send a high-level delegation to the US for direct negotiations with the government.
Cambodia asked the US government on Friday to postpone the 49% tariff rate on its products, the highest rate in Asia and second-highest globally.
Vietnam’s leader To Lam and Donald Trump agreed on Friday to discuss a deal to remove tariffs (Vietnam will be subject to a 46% tariff).
Brazil, which faces a 10% levy on its exports to the US, has said its “government is evaluating all possible actions to ensure reciprocity in bilateral trade, including resorting to the World Trade Organization, in defense of legitimate national interests”.
Taiwan’s top financial regulator said this morning it will impose temporary curbs on short-selling of shares to help deal with potential market turmoil brought resulting from the new import tariffs. Taiwan’s government said on Thursday that the new 32% tariff rate levied on the island were unreasonable and it would discuss them with Washington.
China has hit back hard against Trump’s imposition of 34% tariffs on Chinese goods, which were already subject to a 20% levy, taking the total levy to 54%. Beijing in turn announced a slew of countermeasures, including extra levies of 34% on all US goods and export curbs on some rare earth minerals.
Canada announced a limited set of counter measures against the latest US tariffs. The new Canadian prime minister Mark Carney said the government will copy the US approach by imposing a 25% tariff on all vehicles imported from the US that are not compliant with the US-Mexico-Canada trade deal (Canada and Mexico were exempt from Trump’s latest duties because they are still subject to a 25% tariff related to the US fentanyl crisis for goods that do not comply with the US-Mexico-Canada rules of origin). Carney says Canada will retaliate against “unjustified, unwarranted” tariffs.
The Israeli prime minister, Benjamin Netanyahu, is set to travel to Washington to meet with his close ally, US president Donald Trump.Netanyahu will meet Trump on Monday to “discuss tariffs, efforts to bring back Israeli hostages (from Gaza), Israel-Turkey relations, the Iranian threat, and the fight against the International Criminal Court”, which has accused the Israeli leader of war crimes, his Jerusalem office said in a statement.Israel was not spared from Trump’s tariff offensive. Unspecified Israeli goods exports to the US now face a 17% tariff. The US is Israel’s closest ally and largest single trading partner.An Israeli finance ministry official said on Thursday that Trump’s latest tariff announcement could impact Israel’s exports of machinery and medical equipment. Israel and the US signed a free trade agreement 40 years ago and about 98% of goods from the US are now tax-free.Netanyahu, the country’s longest-serving prime minister, travelled to the US in February. He will be the first leader to meet with Trump after the US imposed global tariffs. Israeli officials will be working hard to persuade the US president to lower or remove the tariffs.The White House’s tariff wars also risk reopening simmering Brexit tensions in Northern Ireland, as my colleague Lisa O’Carroll explains:
Donald Trump’s tariff plan could undermine the Brexit deal between the EU and the UK for trading arrangements in Northern Ireland, a highly sensitive agreement designed to maintain the 1998 peace pact.
As part of the president’s attempt to spur on a “rebirth” of the US, Trump has imposed a two-tier tariff rate on the island of Ireland – with a 20% tax on exports from the republic but a 10% rate on the UK, including Northern Ireland.
A former EU commissioner has questioned whether Trump thought through his plan’s effect on the peace process brokered by the US almost 30 years ago.
Although it could put Northern Ireland at an advantage over the Republic of Ireland for exports such as whisky and dairy produce, a political problem could arise if the EU retaliates with like-for-like tariffs of 20% on US imports.
Under the Windsor framework, the EU tariffs will apply in Northern Ireland, creating a manufacturing price difference between Northern Ireland and Great Britain for any important components from the US.
You can read the full story here:British ministers have been suggesting for weeks that the UK could be spared from Trump’s tariffs with a bespoke trade deal with the US. But Trump did not exempt the UK from 25 per cent tariffs on steel, aluminium and cars.Ministers are reportedly still working to persuade the Trump administration to scrap the 10 per cent tariff baseline global levy that has ensnared the UK along with many other countries around the world.If UK negotiators can not agree a deal to reduce the 10% tariff by 1 May, the government may impose retaliatory tariffs on US imports, but Downing Street sees this as a last resort.Darren Jones, chief secretary to the Treasury, was also interviewed by Sky News’ Trevor Phillips this morning. He said the UK had been “treated differently to the European Union” as a result of Brexit. As a reminder, Trump has imposed a 10% tariff on UK goods but a 20% tariff on EU goods.Asked if the lower 10% tariff imposed by the US was a “Brexit dividend”, the chief secretary to the Treasury said:
It is, there’s one. I’ve struggled to find one in the past but there is one we’ve ended up with.
It’s good, but what we’re not going to do is pick or trade off the United States or the European Union.
I’ve already talked about relationship with the United States, we know that’s important and works well, but so is our relationship with the European Union – on trade, on energy, but increasingly on security, and I think it’s the right strategic decision for the UK, especially in this world that’s chopping and changing around, that we have those strong bridges into the European Union and into the United States, and that’s what we’re working to deliver.
Jones’ comments echoed those from the shadow trade secretary, Andrew Griffith, who suggested that Brexit had spared the UK from higher import taxes.Griffith said: “The silver lining is that Brexit, which Labour ministers voted against no less than 48 times, means that we face far lower tariffs than the EU: a Brexit dividend that will have protected thousands of British jobs and businesses.”Here is some more reaction to the tariffs from London, where ministers are weighing up a response to Trump’s higher levies.Darren Jones, chief secretary to the Treasury, has been speaking to Laura Kuenssberg on her BBC Sunday politics programme. Here is a roundup of what he said:
People should be prepared for things to be tougher in the global economy.
Globalisation has “come to an end” in the wake of the new tariffs. Asked if the era of “cheap fast-fashion or cheap TVs” was over, Jones said: “Yeah, it’s ended. Globalisation, as we’ve known it for the last number of decades, has come to an end.”
It is in the best interest of the British economy and workers to “get trade deals across the line”.
Jones said the government thinks a deal with Trump on tariffs can be reached, with talks ongoing. “We’re hoping to do a deal,” Jones said, adding that “we have a better outcome than other comparable countries as a consequence of our diplomacy”.
The EU is likely to approve its first set of targeted countermeasures on up to $28bn (£21.7bn; €25bn) of US imports in the coming days, Reuters is reporting.The 27-nation bloc faces 25% import tariffs on steel and aluminium and cars and “reciprocal” tariffs of 20% from Wednesday for almost all other goods.The European Commission, which coordinates EU trade policy, will propose to members late on Monday a list of American products to hit with extra duties in response to Trump’s steel and aluminium tariffs rather than the broader reciprocal levies.It is set to include US meat, cereals, wine, wood and clothing as well as chewing gum, dental floss, vacuum cleaners and toilet paper. The EU has been cautious to respond the tariffs so far.European Commission President Ursula von der Leyen said Trump’s levies were a “major blow to the world economy” but held off announcing new countermeasures, adding that the commission was “always ready” to talk.Trump’s tariffs cover some 70% of the EU’s exports to the US – worth in total €532bn ($585bn; £454bn) last year – with likely duties on copper, pharmaceuticals, semiconductors and timber still to come.On Monday, Luxembourg will host the first EU-wide political meeting since Trump’s announcement of the sweeping tariffs when ministers responsible for trade from the 27 EU members will exchange views on the impact and how best to respond.My colleagues have done a useful explainer breaking down what Trump’s tariffs are and how they’ve affected the economy since the announcement. Here is an extract from it:What exactly are the new tariffs Trump is imposing?Trump’s new tariffs are twofold. First, all imported goods will be subject to a 10% universal tariff starting 5 April. Then, on 9 April, certain countries will see higher tariff rates – what Trump has deemed “reciprocal tariffs” in retaliation for tariffs the countries have placed on American exports.Keep in mind that tariffs are paid by American companies that are importing goods such as wine from Europe or microchips from Taiwan.Some of the highest tariffs will be put on imports from Asian countries, including China, India, South Korea and Japan. EU exports will also have a 20% tariff.How did the White House calculate the tariffs?The administration said that it looked at countries with a trade deficit with the US in 2024, then divided that country’s trade deficit by its exports to the US, and considered this to be a tariff.The White House calls this definition a “tariff” placed on American goods, though a deficit and a tariff are not the same thing. It then halved the “tariff” and used that percentage to represent the new levy that the US would place on goods from that country.Here is a video of Trump announcing the sweeping tariffs on Wednesday. They were regularly touted on the Republican’s presidential campaign trail, but their scale have taken many commentators by surprise:The US’s 25% tariff on imported cars and light trucks took effect on Thursday, the day after Trump announced tariffs on other goods from countries across the globe. This has prompted a swift reaction from car manufacturers.Britain’s car industry, which employs 200,000 people directly, is highly exposed to the new tariffs. The US is the second-biggest importer of British-made cars after the EU, with nearly a 20% share.Jaguar Land Rover has announced it would “pause” shipments to the US, as the The Coventry, England-headquartered company says it is working to “address the new trading terms” and is looking to develop its “mid- to longer-term plans”.The Institute for Public Policy Research (IPPR) thinktank has said over 25,000 direct jobs in the car manufacturing industry could be at risk as exports to the US are projected to fall.Meanwhile, carmaker Stellantis said on Thursday it was temporarily laying off 900 workers at five US facilities after Trump’s tariffs were announced, and temporarily pausing production at an assembly plant in Mexico and one in Canada.Stellantis, which owns car brands like Jeep, Citroën and Ram, said it will be temporarily pausing production at the Windsor assembly plant in Canada up until the week of 21 April.The company will also be temporarily pausing production at the Toluca assembly plant in Mexico for the month of April, starting tomorrow. Due to the production pause, there will be temporary layoffs at the Warren and Sterling stamping plants in Michigan and at the Indiana and Kokomo transmission plants and Kokomo casting facility in Indiana.However, the United Automobile Workers union, one of biggest trade unions in the US, endorsed the tariffs, which Trump sees as a way of tempting US manufacturers to return to America.The union said the decision “signals a return to policies that prioritize the workers who build this country — rather than the greed of ruthless corporations.” Shawn Fain, the union president, said “ending the race to the bottom in the auto industry starts with fixing our broken trade deals, and the Trump administration has made history with today’s actions”.Welcome back to our live coverage of the economic fallout from Donald Trump’s announcement of sweeping tariffs last week.Almost $5tn (£4tn) was wiped off the value of global stock markets after the US president made his shock announcement last Wednesday, which included a 10% base tariff on imports into the US from the UK.Trump’s 10% tariff on UK products came into force on Saturday, as global stock markets continued to fall in response to the imposition of import taxes.Cambodia, Vietnam and Thailand were struck with tariffs of 49%, 46% and 36%, while the EU faces a levy of 20% for all the goods it exports to the US.The FTSE 100 plummeted on Friday in its worst day of trading since the start of the pandemic, while markets on Wall Street also tumbled.Analysts warn that already sluggish UK economic growth could be up to 0.5 percentage points lower over coming years as a result of Trump’s tariffs.In reaction to the US tariff offensive, the UK’s prime minister, Keir Starmer, has written an opinion piece in the Sunday Telegraph, saying he is ready to “use industrial policy to help shelter British business from the storm”. He is among world leaders who are in intense discussions with their teams, carefully weighing up how to respond to the president’s tariffs.“Old assumptions can no longer be taken for granted. The world as we knew it has gone. We must rise to meet the moment,” Starmer wrote.“We are ready for what comes next. The new world is less governed by established rules and more by deals and alliances.”Stay with us as we will keep bringing you all the latest updates and reaction to the tariff’s throughout the day.
Sports
A transgender athlete took home first place in a varsity high jump competition at an Oregon high school meet Wednesday, roughly two years after finishing last while competing against junior varsity boys, according to a report. Lia Rose, who reportedly used to compete as Zachary, won the high jump at the Portland Interscholastic League Varsity Relays with a height of 4 feet, 8 inches, beating the second-place finisher by two inches.According to athletic.net, while competing against JV boys May 3, 2023, Zachary Rose finished 11th out of 11 competitors with a jump of 4 feet, 6 inches.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM Hurdle on a track (Christian Petersen/Getty Images)The winning height in that meet was another foot higher.According to online records, Zachary Rose competed in the boys category in 2023. The following year, Lia Rose also competed in the same category. But this year, Lia Rose was listed as competing in the girls category.In 2024, Lia mostly competed against JV boys, with a top finish of second place and a personal record of 5 feet even.Zachary competed as a sophomore in track with a top finish of second in a JV 3,000-meter race, but there were only two competitors. Zachary lost by over a minute. Starting blocks and a baton at the 120th Penn Relays at Franklin Field. (Kirby Lee/USA Today Sports)Lia’s 4-foot, 8-inch mark from Wednesday is listed as a “personal record.”A spokesperson from Portland Public Schools was unable to confirm or deny that Lia and Zachary are the same person, citing the Family Educational Rights and Privacy Act “to protect student privacy.”Lia’s victory comes roughly two weeks after Ada Gallagher, a trans track athlete in the Portland area, blew out the competition. Hurdles at a track and field event. (C. Morgan Engel/NCAA Photos via Getty Images)CLICK HERE TO GET THE FOX NEWS APPGallagher, a state champion last year, finished at 57.62 in the 400 meters, with Franklin High School’s Kinnaly Souphanthong coming in second at 1:05.72. Gallagher’s teammate, Quinnan Schaefer, was behind Souphanthong at 1:07.13. In the 200-meter race, Gallagher finished in first place at 25.76, followed by teammate Addyson Skyles at 27.31.Both times for Gallagher were season bests.Fox News’ Scott Thompson contributed to this report.Follow Fox News Digital’s sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.
A UFC fighter played hero in his Phoenix neighborhood late Friday night by apprehending the driver of a vehicle that crashed into a neighbor’s home.Henry Cejudo said he saw a car “probably going 80 to 100 miles an hour” and heard a loud boom. He then saw the car had crashed into his neighbor’s home.After hearing the crash, Cejudo saw the driver leave the car after a bit of a struggle and tried to get him to stop.CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM Henry Cejudo is introduced before fighting Song Yadong in a bantamweight bout during UFC Fight Night at Climate Pledge Arena. (Steven Bisig/Imagn Images)The owner of the home did the same. But when the driver “cold-cocked” the neighbor, “that’s when I had to step in,” Cejudo told MMA Junkie.From there, it was easy for the former flyweight and bantamweight champion and his neighborhood wrecking crew.”Pretty much all my neighbors came in to fight the situation. I ended up lifting him, dropping him, slapped him around a little bit and just pretty much controlled him,” he said.”He wasn’t that tough.” Aljamain Sterling (red gloves) fights Henry Cejudo (blue gloves) during UFC 288 at Prudential Center. (Ed Mulholland/USA Today Sports)EX-UFC FIGHTER IMPLORES TRUMP TO PARDON FORMER CHAMPION WHO SHOT AT ALLEGED CHILD MOLESTERThe driver, a 22-year-old man, now faces charges of driving under the influence and assault, according to ABC15 in Arizona.Cejudo said the situation could have been much worse.”If someone was standing in there, they would be dead. All these kids are lucky to be alive,” Cejudo said.Cejudo said a block party was held on the street earlier in the day. Henry Cejudo celebrates after defeating Marlon Moraes during UFC 238 at United Center. (Jerry Lai/USA Today Sports)CLICK HERE TO GET THE FOX NEWS APP”If it was a couple hours earlier, someone would be seriously injured,” Cejudo said.Follow Fox News Digital’s sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.
AstraZeneca is used to facing protests over pay at its annual general meetings, given the position of its chief executive, Pascal Soriot, as the best-paid FTSE 100 chief executive for most of the past five years. But pay is not the only issue overshadowing this year’s virtual gathering on Friday.Britain’s biggest listed company, valued at about £170bn, faces investigations in China over import and data breaches, while it ran into controversy when it ditched the planned £450m expansion of its vaccine site in Speke, near Liverpool, in late January, after failing to hammer out a state support package with the UK government.On top of these problems comes the prospect – so far unrealised – of Donald Trump slapping tariffs on the pharmaceutical industry as part of his continuing attack on global trade practices.The company’s chair, Michel Demaré, will at least be able to reflect on a year that was financially successful. Strong sales of AstraZeneca’s cancer, lung and immunology treatments lifted 2024 profits 38% higher to $8.7bn, with revenues up by 21% to $54.1bn.The group is confidently predicting a jump in revenues to $80bn by 2030, as it is betting on the launch of 20 new medicines.View image in fullscreenThis impressive financial performance has been clouded by trouble in China, where AstraZeneca is one of the biggest multinational pharma businesses. Its shares have risen by just 9% in the past 12 months, while they are up by nearly 60% in the last five years.China is the company’s second biggest market after the US, and news broke in September that several former and current executives were being investigated over allegations of importing unlicensed cancer medications and patient data breaches.The head of AstraZeneca’s China business, Leon Wang, who led its rapid growth there in recent years, stood down in late October after being detained by the authorities.AstraZeneca said in early February it could be fined up to $4.5m if it was found liable over suspected unpaid importation taxes of $900,000 relating to its cancer drugs Imfinzi and Imjudo. There is also a separate investigation into alleged medical insurance fraud by AstraZeneca employees in China, which began in 2021.Then, just over a week ago, the group revealed a $2.5bn investment to establish its sixth international strategic research and development hub, set to be located in Beijing, in a sign that it may avoid severe penalties in China. The Beijing site will be the second in the country, after its existing facility in Shanghai.Investors will be breathing a sigh of relief if AstraZeneca can put its China troubles behind it, but tariffs are another concern. So far, pharmaceuticals have been spared by the bruising new US tariffs, but if they were included, the cost of medications could rise around the world. The industry relies on long and complicated supply chains that involve many countries.Both AstraZeneca and the UK’s other big drug maker, GSK, have some manufacturing in the US, their No 1 market, which means they can mitigate against any tariffs to an extent. Last autumn, AstraZeneca said it was investing a further $3.5bn in US research and manufacturing.But its decision not to expand in Speke is a blow to the country, with Tom Keith-Roach, AstraZeneca’s UK president, recently describing Britain as “an outlier now as one of the most difficult places in the world” in which to bring new medications to patients.Added to all this, AstraZeneca is unlikely to escape renewed scrutiny of its remuneration policy.Soriot, who joined from Roche in 2012, has successfully rebuilt AstraZeneca’s drug portfolio since fending off a hostile takeover bid from US rival Pfizer in 2014. The company has rewarded him with ever-higher pay packets, prompting almost 40% of shareholders to vote against, or abstain from voting on, his maximum £18.7m package last year.He was paid £14.7m in the end, but this year his package could go up to £25m, depending on targets being met and a rise in the share price.AstraZeneca argues this is needed to attract and retain talent, and that the new pay policy simply brings Soriot’s pay more into line with that of global pharma executives.The investor advisory group Institutional Shareholder Services says: “Questions may be posed as to whether the remuneration committee’s response to the significant dissent to remuneration proposals at the last AGM has sufficiently assuaged shareholder concerns raised regarding variable pay.”However, it adds that “there is evidence of performance targets being made more robust” and there are “no fresh concerns” at this time.Andrew Speke of the High Pay Centre thinktank says: “While in general, most people would consider the pay of some of the lowest-paid FTSE 100 chief executives to be far too high, Pascal Soriot’s pay levels have been viewed somewhat more sympathetically due to AstraZeneca’s role in developing vaccines during the Covid pandemic.”However, he argues that this year’s potential pay rise “deserves much greater scrutiny. Such extreme pay levels will only raise greater concerns among critics of big pharma that the companies producing life-saving drugs are primarily focused on enriching their executives and shareholders.”
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