British Prime Minister Keir Starmer on Monday pledged that any trade deal with the US will be signed only if it is in the UK’s “national interest,” as he warned about the significant challenges posed by President Trump’s tariffs.
Starmer said that the new import taxes, which include a 10% “baseline” import duty and a 25% tariff on British cars, would pose a “huge challenge for our future.”
“We will only strike a deal if it’s in the national interest,” said Starmer, adding that his priority was “strength abroad, security and renewal at home.”
The UK government is seeking to negotiate an agreement with the US to limit the impact of the tariffs.
Discussions are also underway regarding changes to taxes on large tech firms as part of a potential deal.
However, Starmer sought to reassure the public, stating that there would be no trade deal “at any price.”
His remarks came during a visit to a Jaguar Land Rover factory in Solihull, where he emphasized the importance of supporting the UK industry.
“These are challenging times, but we have chosen to come here because we are going to back you to the hilt,” he said, calling the visit a “statement of intent” for the government’s industrial plans.
The economic climate has also been affected by a global downturn, with US stock markets opening down 4.4% to 5%, amid growing concerns about a global recession.
In an effort to support the domestic automotive industry, the UK government has announced that it will relax targets for electric and hybrid cars, alongside a £2.3 billion investment to boost electric vehicle adoption and improve charging infrastructure.