Trump's tariff war impact: UK PM may declare the end of the era of globalisation
Globalization: Starmer has said that globalization is no longer benefiting many people. We do not believe that a trade war is the answer, but this is an opportunity to show that there can be a different way.
After the US decision made by US President Donald Trump to put tariffs on many countries, there is a sense of disturbance everywhere in the world. In this backdrop, UK Prime Minister Keir Starmer is set to make a major announcement on Monday. It has been reported by the media that Keir Starmer is set to address the nation on Monday, in which he can declare the end of the globalisation era.
Globalization began in the world following the fall of the Soviet Union in 1991. Globalisation has prospered during the last decades and it has opened up global markets. But the manner in which Trump announced the imposition of retaliatory tariffs has initiated a phase of uncertainty in the world economy.
According to media reports, Starmer may announce the end of globalization on Monday. Starmer is angry with Trump's decision to impose tariffs and believes that this could mark the beginning of a new era. According to media reports, Starmer has said that globalization is no longer benefiting many people. We do not believe that a trade war is the answer, but this is an opportunity to show that there can be a different way.
Starmer believes that now after the imposition of tariffs, various countries can focus on increasing their production capacity and domestic production. Like Keir Starmer, HSBC chief Sir Mark Tucker also believes that the era of globalization is over. At an investment conference in Hong Kong last month, Sir Mark Tucker had said that due to Trump's aggressive trade policies, the world could be divided into small groups, between which strong trade relations can be formed.
