London, April 5 (Reuters) – British Prime Minister Kir Stmper said on Saturday that he was ready to help the country’s businesses “shelter” from US President Donald Trump’s new tariff policies, which were mooting the state intervention for the worst affected industries.
“We are ready to use the industrial policy to help to help in sheltering the British business from the storm,” the stormer has written in the Telegraph newspaper.
“Some people may feel uncomfortable about this – the state should consider that the market must be intervened directly to shape.
“But we can’t just stick to old feelings when the world is changing this fast.”
While the stormer said that the government’s priority remains to try and secure a business agreement with the US which could include tariff exemption, he said that he would “necessary everything necessary” to protect the national interest.
Britain was given the most punitive treatment in Trump’s tariff declaration on Wednesday when it was killed with the lowest import duty rate of 10%, but a global trade war would damage its open economy.
“This week we will turbocharged plans that will improve our domestic competition, so we are in touch with such global shocks,” he said, the government also says that the government also wanted to strengthen the alliance and reduce the barriers in trade.
Telegraph said that the government’s government may bring emergency reforms to reduce red tape around regulation and increase the possibility of stop by targeting to help affected areas.
British car manufacturer Jaguar Land Rover said on Saturday that it would prevent the shipment of cars in the US for a month due to the tariff, adding apprehensions about the impact on an industry that employs 200,000 people in the UK.
Writing in the newspaper, the stormer reiterated that it would take a “cool-headed” approach to tariffs instead of immediate vengeance, but he said: “All options remain on tables”.
Britain on Wednesday published a 400-hit list of American goods, which may be involved in any potential retrasement tariff response. (Reporting by Sara Young; editing by David Gregorio)
