British firms have been warned to prepare for a “very big hit” from Donald Trump’s tariff wars.
Sir Keir Starmer said talks with the US on a trade deal that would help the UK avoid the US import levies were “well advanced”.
He denied that the Government had tried to “suck up” to Trump to get a trade deal to avoid the tariffs but stressed it would continue negotiating to try to reach an agreement.
Lord Kim Darroch (Niall Carson/PA)
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This stance, rather than retaliatory tariffs as planned by the European Union, Canada and other countries, was backed by Lord Darroch, a former UK ambassador to Washington during Trump’s first term.
“We have to keep negotiating and there is still, it seems from what the Government is saying, a glimmer of hope that a deal can be done,” he said.
“But meanwhile we have to take the hit on the tariffs that will be announced tomorrow.
“We have 25 …