Sir Keir Starmer has pledged to only sign a trade deal with the US that is in the UK’s “national interest,” as he warned about the impact of President Trump’s tariffs.
The prime minister said the import taxes announced by the US president last week – which have prompted economic turbulence across the world – would pose a “huge challenge for our future”.
The UK is hoping to sign an agreement to limit the impact on the UK, which has been hit with a 10% “baseline” import duty, with a 25% tariff on British cars.
The UK is considering changes to taxes on big tech firms as part of a deal.
But speaking during a visit to a Jaguar Land Rover factory in Solihull, Sir Keir sought to reassure the public there would not be a trade deal at any price.
“I will only strike a deal if it’s in the national interest,” he said.
“That’s my priority – strength abroad, security and renewal at home,” he added.
The PM was speaking as a trio of US stock markets opened 4.4% to 5% down amid concern about a global recession.
Earlier, the government announced it would relax targets for electric and hybrid cars and provide £2.3bn to boost electric car take-up and improve charging infrastructure as a “down payment” on Britain’s industrial future.
