Starmer calls for calm as global markets tumble following Trump’s tariffs
Sir Keir Starmer said the UK had to meet ‘the great challenge of the age’ after US President Donald Trump slapped tariffs on goods sent to the US.
Sir Keir Starmer called for “cool heads” as global markets plunged in response to Donald Trump’s sweeping tariffs.
The Prime Minister said the UK had to “rise together as a nation” in the face of a new era of global instability.
The value of US stocks dropped sharply as markets opened on Monday afternoon, following falls in London and across Europe and Asia earlier.
The FTSE 100 index of major companies fell sharply by 4.38% to 7,702.08, its lowest closing price since March last year.
In the US, the Dow Jones index was down 1.52%, while the S&P 500 was 0.96% lower.
In currency, sterling suffered a heavy fall, slipping by 1.28% to 1.272 against the dollar at the London market close.
Speaking at a Jaguar Land Rover plant in the West Midlands, Sir Keir said: “These are challenging times, but we have chosen to come here because we are going to back you to the hilt.”
He said the visit was a “statement of intent”, showing the Government’s support for an industry which has been hit with a 25% tariff by Mr Trump.
