Following US President Donald Trump’s protectionist measures – such as tariffs and the ‘America First’ policy – UK Prime Minister Keir Starmer is scheduled to make an address on Monday, declaring that the era of globalisation is over.
The UK Prime Minister is all set to announce that globalisation – which began with the fall of the Soviet Union in 1991 – has caused disappointment to millions of voters as Trump’s unprecedented 10 per cent “baseline” tariffs slipped the global markets into uncertainty.
According to reports, Starmer is also expected to acknowledge that he understands his US counterpart’s focus on economic nationalism. Citing a senior UK official, the outlet reported that while the Starmer administration does not agree with Trump’s extreme measures, it admits that a new era has begun – one in which many support the US President’s approach.
“Globalisation doesn’t work for a lot of working people. We don’t believe trade wars are the answer. This is a chance to show that there’s a different path,” Starmer said.
As Trump moves to remove trade barriers, Starmer, has acknowledged that with increased competition as a result, countries will look inward to boost productivity and ramp up domestic production through supply-side reforms.
