President Donald Trump arrives at Palm Beach International Airport in West Palm Beach, Fla., January 31, 2025, en route to his Mar-a-Lago estate in Palm Beach
TRADE wars, tariffs and rising prices provide the worst possible climate for Labour’s vacuous reliance on private-sector-led “growth” to rescue the economy.
The direction of travel was clear before — not only through US sanctions on China, but through Washington’s wider industrial and sanctions policy designed to relocate industry from Europe to its own shores under Joe Biden. But Donald Trump has now decisively signalled war on “globalisation.”
Labour has no idea what to do about it. Yvette Cooper admits it will be damaging for trade and growth internationally but has no suggestions.
US tariffs have had Von der Leyen bowing in submission, while comments from the former European Central Bank leader call for more European political integration and less individual state sovereignty. All this adds up to more pain and austerity ahead, argues NICK WRIGHT
