The UK government announces plans to support key industries amid the economic turmoil unleashed by Donald Trump’s global tariffs, including exemptions for smaller manufacturers and measures to stimulate growth in vulnerable sectors.
The UK government will step in to support key industries amid the economic turmoil unleashed by Donald Trump‘s global tariffs. In a significant intervention, ‘Prime Minister Keir Starmer announced plans to give carmakers more flexibility over how they meet a target to stop sales of new petrol and diesel cars by 2030.’
Donald Trump was born on June 14, 1946, in Queens, New York.
He graduated from the University of Pennsylvania and began his business career in real estate.
Trump's business ventures expanded to casinos, hotels, and golf courses.
He became a reality TV star with 'The Apprentice' and later ran for president in 2015.
Trump won the Republican nomination and was elected as the 45th President of the United States on November 8, 2016.
Smaller manufacturers such as Aston Martin will be exempt from the target while the sale of hybrid cars will continue until 2035. This move is designed to give industry more time to prepare for the shift to electric vehicles, a growth sector for the UK.
The government will also provide support to other sectors hit by Trump‘s tariffs, including life sciences. Ministers will announce measures designed to stimulate growth, such as cutting red tape and removing more planning restrictions.
Starmer said that global trade is being transformed and the UK must go further and faster in reshaping its economy and country through its plan for change. The government plans to strengthen its trading relationships with others across the globe at the same time.
Keir Starmer is a British politician who has been serving as the Leader of the Opposition since 2020.
He previously served as the Shadow Brexit Secretary and was elected as the Member of Parliament for Holborn and St Pancras in 2015.
Before entering politics, he worked as a human rights lawyer and was involved in several high-profile cases, including the Hillsborough disaster.
Starmer holds a law degree from Oxford University and has written extensively on legal and political issues.
Ministers are pressing on with talks for trade deals with other countries, including India and China. The government hopes that these talks will result in a lowering of tariffs and provide stability for British automotive brands such as Rolls-Royce, Vauxhall, and Land Rover.
The zero-emission vehicle (ZEV) mandate will be changed to make it easier for industry to upgrade to make electric vehicles. This move aims to give British automotive brands a degree of stability amid turbulent times.
Experts say that the government’s plans are unlikely to fill a new ‘black hole’ in the autumn budget, increasing pressure on the chancellor, Rachel Reeves, to make further spending cuts or increase taxes to balance the nation’s books.
