UK Prime Minister Keir Starmer spoke with international leaders at the weekend to discuss the repercussions and future course of action in the wake of reciprocal tariffs announced by the United States.
In separate calls Sunday, Starmer spoke with Canadian Prime Minister Mark Carney, European Commission President Ursula von der Leyen, German Chancellor Olaf Scholz and leader of the German Christian Democratic Union party Friedrich Merz.
They all agreed that as with defence and security, this is a new era for the global economy. Europe must rise to meet the moment and ensure the impact on hard-working people is minimized, while working closely with other countries to help maintain wider economic stability, says a statement issued by the UK Prime Minister's Office.
Starmer reiterated that he was disappointed by the new U.S. tariffs and stressed he will continue to act in the UK's national interest — remaining calm while preparing for all eventualities.
He updated on his plans to go further and faster to strengthen the UK's economy and ensure it is as resilient as possible and can withstand these kinds of global shocks. He added that it would be important for the UK to strengthen its trading relationships with others across the globe at the same time.
Ursula von der Leyen reportedly told Starmer that the European Union stands ready to defend its interests through proportionate counter-measures if necessary.
During the call between Starmer and Carney, the leaders discussed their commitment to working together to maintain global economic stability in the wake of the announcement from U.S. President Donald Trump. An all-out trade war is in no one's interest, they agreed.
Both agreed on the importance of free and open trade between like-minded nations. The UK Prime Minister said trading blocs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership will be important in this new global era.
The Canadian Prime Minister thanked Starmer for his leadership on Ukraine and reaffirmed his commitment to Canada playing a role in the Coalition of the Willing.
The reciprocal tariffs announced by Trump on the United States' major trade partners, including its allies, came into force on April 2.
European and Asian markets slumped on Monday over fear of a possible trade war.
Trump told reporters on board Air Force One, "Sometimes you have to take medicine to fix something."
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Business News
April 11, 2025 14:54 ET Some key economic data were released during the week though the focus remained on the escalation of the global tariff war. Inflation data and minutes of the latest Fed policy session were the main news out of the U.S. In Europe, trade data from Germany was among the key reports released. In Asia, consumer price data from China gained attention, while India’s central bank was in focus as it announced the latest interest rate decision.