Economic_News

In uncertain times, the government is seeking to foster the stability that promotes security and growth, the chancellor argues

This week we witnessed the uncertainty of a changing world. Financial markets and nation states responding to the dawn of a new economic era and the reality of new barriers to trade. I am in no doubt that the imposition of tariffs will have a profound impact on the global economy and the economy at home.

This change can be unsettling for families who are worried about the cost of living and businesses concerned about what it means for them. But our task as a government is not to be knocked off course or to take rash action which risks undermining people’s security. Instead, we must rise to meet the moment and do what is right in Britain’s national interest.

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Is the president really ready to do battle with China after causing global chaos and undermining the US economy?

• You can buy a copy of this cartoon

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The US could breach the debt ceiling even sooner than predicted without action from Republicans

“Trump backs down on tariffs, again. And it doesn’t look strategic,” a headline blared on Wednesday afternoon.

At the end of trading, equities had recovered a portion of their losses. But plenty of damage had been done. Markets were thrown into turmoil, interest rates jumped and business activity took a hit. Beyond that, the possibility of a recession grew – and the possibility of a default by the US inched up to 6%, according to prediction markets.

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The PM will not antagonise the unpredictable president, but it is clear to No 10 that Trump is the problem and the solution lies elsewhere

• Tom Baldwin is the author of Keir Starmer: The Biography

Keir Starmer was back at the Emirates Stadium on Tuesday to watch Arsenal’s 3-0 win over Real Madrid, a result that far exceeded expectations of his team’s chances in Europe. And, over the next few days, I wouldn’t be surprised if he tries to snatch a short Easter break in the warmth and sunshine of that same continent.

Football and family holidays offer him some much needed relief from the grim reality of a faltering economy, towering public debt and terrifying global insecurity, which are all being made worse on a daily – sometimes hourly – basis by Britain’s closest ally of the previous 80 years.

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