The Rundown Podcast: Can Starmer Navigate Trump's Tariff Turmoil?
2 min read
On this week's episode of The Rundown — we're taking on the small matter of what is happening to the global economy — and what that will mean for the UK — after Donald Trump’s sudden volte face on Wednesday, abandoning almost all of the tariffs he had meted out on so-called ‘Liberation Day’ a week before, that had sent markets tumbling.
As the world tries to make sense of what has taken place, and what will happen during the 90-day pause announced by the US president, the panel explain the impact of the 10 per cent levies still applicable on all British goods, as well as 25 per cent tariffs on steel and automobile industry exports.
Joining host Alain Tolhurst are Jill Rutter, senior fellow at the Institute for Government think tank and a former senior civil servant, and Raoul Ruparel, a former adviser to Theresa May on Europe and a special adviser in the Brexit department.
Alongside them are Allie Renison, associate director at SEC Newgate and a former policy adviser to the secretary of state for business and trade, and Clive Jones, Liberal Democrat MP and his party’s spokesperson on trade.
They discuss the continuing fears of a recession both here and abroad caused by the looming US-China trade war, and what Prime Minister Keir Starmer's strategy should be to see the UK's remaining tariffs removed.
Whether the government should focus on strengthening relations with the European Union, rather than trying to navigate Trump’s capricious approach to global trade policy, or attempt to stay above the fray and avoid retaliatory tariffs.
Before that, Labour MP Liam Byrne, the former Treasury minister who now chairs the Commons business and trade committee, argues that Starmer must not "let a crisis go to waste”, and said America’s shift towards protectionism presents an opportunity for Britain to take a bigger role in global affairs.
He tells the podcast: “This is a moment when we can really dramatically step up the industrial policy that's been missing in our country for so long.
“What's holding our country back is an investment problem, it’s bedevilled us for a long, long time.
“Now, if we can get industrial policy at the right speed and scale, we can fix that problem for the first time in a generation.”
The Rundown is presented by Alain Tolhurst, produced by Nick Hilton and edited by Ewan Cameron for Podot
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