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2025-04-28

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Trump's tariff escalation! The UK Prime Minister warns that globalization could come to an end.

Trump's tariff escalation! The UK Prime Minister warns that globalization could come to an end.
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UK Prime Minister Shapps stated that the era of globalization has come to an end. In the face of the tariffs imposed by the Trump administration, the UK must embrace new opportunities and challenges. He emphasized that the UK should remain calm, strive for the most beneficial trade agreements, and strengthen ties with allies, while committing to protect national interests and possibly using industrial policy to support local businesses. Shapps is expected to deliver a speech on Monday, stating that the economy needs to reform more rapidly to address the far-reaching impacts of the trade war.

British Prime Minister Skeel stated that the world is facing unprecedented changes with Trump's return to the White House, marking the end of the era of globalization, fundamentally altering the way of life that people are accustomed to.

The United States' implementation of reciprocal tariff policies has plunged global stock markets and financial markets into crisis, with the UK also unable to escape, facing a 10% reciprocal tariff. Skeel pointed out in a statement over the weekend that the British people must lift their spirits and seize the upcoming opportunities and challenges.

  • Skeel is expected to deliver a speech on Monday local time, discussing the end of the globalization era and the arrival of a new era.
  • He emphasized that the impact of the trade war will force the UK to accelerate the reduction of red tape to promote economic growth.
  • In facing tariff issues, he called on the British people to remain calm and ensure the attainment of the most favorable agreements, as there are no winners in a trade war for anyone.
  • Skeel also underscored the importance of flexible diplomacy for strengthening, diversifying, and securing the economy, and declared an intent to continue strengthening ties with allies.

Skeel plans to express protest to Trump but will also understand the reasons why Trump's "America First" policy enjoys voter support, indicating that he will not impose retaliatory tariffs on the U.S. Additionally, Skeel has committed to fully protect the national interests of the UK and may adopt industrial policies to safeguard local businesses.

UK Chancellor of the Exchequer Reeves will also release a series of statements this week aimed at promoting economic growth and plans to visit countries such as India and Australia to advance bilateral trade agreements.