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Darren Jones, the Chief Secretary to the Treasury, said that the era of globalisation has “ended”. He made this statement following Donald Trump’s new tariffs. It was announced that the UK would be hit with a 10% “baseline” import duty, and negotiations on a trade deal to reduce tariffs are continuing. Jones added that globalisation as we’ve known it for the last couple of decades has come to an end. Conservative leader Kemi Badenoch disagreed that globalisation was over and pointed to “great” trading relationships with other countries. There are fears of a global recession following President Trump’s “Liberation Day”, when he announced sweeping import taxes, sparking retaliatory action from countries including China and Canada.
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