Overview

• Donald Trump's sweeping tariffs, including a 25% tax on imported vehicles and 10% on UK exports, have triggered global market declines and fears of a recession.
• Keir Starmer announced targeted support for the UK automotive and pharmaceutical industries, including relaxed electric vehicle targets and streamlined clinical trial processes.
• The UK government is investing £600 million in health data research and considering all options, including nationalization, to address challenges facing British Steel's Scunthorpe plant.
• Starmer emphasized the UK's commitment to free trade and pledged to work with global partners to reduce trade barriers and accelerate trade deals.
• While maintaining strong ties with the U.S., Starmer stressed the importance of national unity and pragmatic adjustments to industrial and environmental policies to navigate the economic fallout.