00:00The White House has confirmed that President Donald Trump's new tariffs will take effect
00:06immediately after the announcement on Wednesday night.
00:10The new tariffs aim to boost US manufacturing and punish other countries for what Trump
00:15calls years of unfair trade practices.
00:18As Europe awaits for clarity on what exactly these tariffs will affect, UK Prime Minister
00:24Keir Starmer has said a trade war is in nobody's interest.
00:29Mr Speaker, we've been preparing for all eventualities ahead of the confirmation of US tariffs later
00:34today. Let me be clear with the House, a trade war is in nobody's interest. And the country
00:43deserves and we will take a calm, pragmatic approach.
00:48By most economists' assessments, Trump's risky move threatens to plunge the economy into
00:54a downturn and damage decades of old alliances.
00:58Trump recently also announced 25% taxes on auto imports as well as levies against China,
01:06Canada and Mexico, while also expanding tariffs on steel and aluminium.
Comments