Trump tariffs live: Starmer vows to protect UK from ‘storm’ of US tariffs while EU readies retaliatory measures

Elon Musk has damaged with the Trump administration to advocate for unrestricted commerce between the US and Europe.

In feedback made throughout a video look with Italy’s right-wing League celebration on Saturday, Mr Musk mentioned: “Ideally, each Europe and the USA ought to transfer to a zero-tariff state of affairs, successfully making a free commerce zone between Europe and North America.”

He added: “If individuals want to work in Europe or want to work in North America, they need to be allowed to take action in my opinion”.

European Union international locations are set to contemplate retaliatory tariffs on as much as $28 billion of U.S. imports from dental floss to diamonds on Monday, in line with reporting from Reuters.

Such a transfer would imply the EU becoming a member of China and Canada in imposing retaliatory tariffs on the USA in an early escalation of what some concern will turn out to be a world commerce battle, making items costlier for billions of shoppers and pushing economies around the globe into recession.

The 27-nation bloc faces 25 per cent import tariffs on metal and aluminium and automobiles and “reciprocal” tariffs of 20 per cent from Wednesday for nearly all different items.

President Donald Trump’s tariffs cowl some 70 per cent of the EU’s exports to the USA – price in whole 532 billion euros ($585 billion) final yr – with seemingly duties on copper, prescribed drugs, semiconductors and timber nonetheless to come back.

The European Fee, which coordinates EU commerce coverage, will suggest to members late on Monday a listing of U.S. merchandise to hit with further duties in response to Trump’s metal and aluminium tariffs somewhat than the broader reciprocal levies, Reuters has reported.

It’s reportedly set to incorporate US meat, cereals, wine, wooden and clothes in addition to chewing gum, dental floss, vacuum cleaners and bathroom paper.

One product that has obtained extra consideration and uncovered discord within the bloc is bourbon. The Fee has earmarked a 50 per cent tariff, prompting Trump to threaten a 200 per cent counter-tariff on EU alcoholic drinks if the bloc goes forward.

Wine exporters France and Italy have each expressed concern. The EU, whose economic system is closely reliant on free commerce, is eager to verify it has vast backing for any response in order to maintain the strain up on Trump finally to enter negotiations.

Conservative chief Kemi Badenoch has mentioned concerning the US: “We disagree basically with what they’re doing on tariffs”.

Talking to the BBC on Sunday morning, Ms Badenoch mentioned that tariffs will “make life costlier for British shoppers and we don’t need that.”

She mentioned that, when the Conservatives have been negotiating a commerce settlement with the US, meals requirements weren’t on the desk.

She has known as for Labour to “choose up the place we left off” on the deal, somewhat than begin from scratch. Ms Badenoch advised the BBC that the UK had had six rounds of negotiations with the US.

“The tariffs are going to be damaging” and can impression the federal government’s “tax take” as companies wrestle, Ms Badenoch added.

Sending youngsters again to high school in new sneakers, denims and T-shirts is more likely to value American households considerably extra this autumn if the bespoke tariffs president Donald Trump placed on main exporters take impact as deliberate, American business teams have warned.

About 97 per cent of the garments and footwear bought within the US are imported, predominantly from Asia, the American Attire & Footwear Affiliation mentioned, citing its most up-to-date knowledge.

Walmart, Hole Inc., Lululemon and Nike are a couple of of the businesses which have a majority of their clothes made in Asian international locations.

Those self same garment-making hubs took an enormous hit underneath the president’s plan to punish particular person international locations for commerce imbalances.

For all Chinese language items, that meant tariffs of at the least 54 per cent. He set the import tax charges for Vietnam and neighbouring Cambodia at 46 per cent and 49 per cent, and merchandise from Bangladesh and Indonesia at 37 per cent and 32 per cent.

The prime minister has been “clear that he is sad” concerning the new US tariffs, a Labour minister has mentioned.

Watch Darren Jone’s feedback right here:

The prime minister has been “clear that he is sad” concerning the new US tariffs, a Labour minister has mentioned.

Chief secretary to the Treasury Darren Jones advised Sky Information’s Sunday Morning With Trevor Phillips programme that the UK is “not comfortable” concerning the levies.

Requested about feedback from Donald Trump final week by which he advised Sir Keir Starmer was “very comfortable” with the UK’s tariff remedy, Mr Jones mentioned: “Keir has been clear that he is sad concerning the tariffs.”

He additionally mentioned the Prime Minister is “broadly sad about tariffs in what was a well-functioning international buying and selling system.”

Mr Jones added: “I believe what’s being referred to there may be the truth that the UK had the bottom tariff, and places us in a a lot stronger place than different advanced, giant economies, which we expect was a vindication of our engagement with the USA within the run as much as the president’s bulletins.

“However clearly, we do not like tariffs; we’re not comfortable about that.”

Mr Jones additionally mentioned “there shall be additional bulletins from the Prime Minister this week on assist for British enterprise” within the wake of the tariffs.

Darren Jones mentioned the UK had been “handled in a different way to the European Union” because of Brexit.

Requested if the decrease 10 per cent tariff imposed by the US was a “Brexit dividend”, the chief secretary to the Treasury advised Sky Information: “It’s, there’s one. I’ve struggled to seek out one prior to now however there may be one we have ended up with.

“It is good, however what we’re not going to do is choose or commerce off the USA or the European Union.

“I’ve already talked about relationship with the USA, we all know that is vital and works effectively, however so is our relationship with the European Union – on commerce, on vitality, however more and more on safety, and I feel it is the appropriate strategic choice for the UK, particularly on this world that is chopping and altering round, that we now have these sturdy bridges into the European Union and into the USA, and that is what we’re working to ship.”

Labour minister Darren Jones has mentioned that globalisation as we’ve recognized it has come to an finish following the introduction of president Donald Trump’s tariffs.

Talking to the BBC on Sunday morning, Mr Jones mentioned: “The world is altering. Initially on safety and defence…however now by way of international commerce.

“Globalisation as we’ve recognized it for the final couple of many years has come to an finish.”

He added that we have to put money into the UK home economic system.

Mr Jones added that retaliatory tariffs wouldn’t be good for anybody and he didn’t need the tariff tit-for-tat to escalate.

Costs may improve and employees working hours fall because the rise in employer nationwide insurance coverage contributions (NICs) comes into pressure on Sunday, ministers have been warned.

The speed of employer NICs will go up by 1.2 share factors from 13.8 per cet to fifteen per cent, and the funds will begin when an worker earns £5,000, down from the earlier stage of £9,100.

The tax improve comes as companies are additionally coping with an 6.7 per cent rise within the minimal wage which got here into pressure final week.

The Conservatives have labelled the change a “jobs tax” whereas the boss of a hospitality business group has mentioned the transfer can have a detrimental impression on job creation.

Kate Nicholls, chief govt of UKHospitality, mentioned: “The will increase to employer nationwide insurance coverage contributions are going to hit companies and employees proper throughout the UK.

“The impacts shall be stark, with hours for employees decreased, buying and selling hours shortened, costs elevated and, within the worst case state of affairs, jobs misplaced.

“These damaging rises not solely hit cherished hospitality venues and communities however the authorities’s ambition to get individuals again into work. It wants sectors like hospitality to create the roles to get individuals out of the welfare system however these tax rises can have the other impact on job creation.”

A commerce battle with the US “is in nobody’s pursuits” following the announcement of worldwide tariffs, a Labour minister has mentioned.

Darren Jones, the chief secretary to the Treasury, advised Sky Information’s Sunday Morning With Trevor Phillips programme: “Even when there’s quite a bit occurring on this planet, and we have seen the world altering quickly in latest months, the UK is a steady nation with a transparent coverage and a robust authorities.

“We’ll at all times act within the pursuits of the British individuals and the British economic system, and we’ll accomplish that in a calm-headed and thought of manner.

“We have been very clear a commerce battle is in nobody’s pursuits.

“Evidently, issues are taking place on this planet that we won’t management, however we’ll do all the things we are able to to guarantee that the UK is in as sturdy and resilient a spot as it may be.”