The US President is expected to slap import taxes on goods going to the US from around the world in a White House statement at 9pm.

Keir Starmer has promised to take “a calm, pragmatic approach” to Donald Trump’s tariffs.

The President is expected to slap import taxes on goods going to the US from around the world in a White House statement at 9pm.

British businesses are braced for the impact of the president’s “liberation day” tariffs which could badly harm the UK economy.

At Prime Minister’s Questions, Starmer told MPs: “Let me be clear with the House, a trade war is in nobody’s interests and the country deserves – and we will take – a calm, pragmatic approach.

“That’s why constructive talks are progressing to agree a wider economic prosperity deal with the US.

“That’s why we’re working with all industries and sectors likely to be impacted.

“Our decisions will always be guided by our national interest, and that’s why we have prepared for all eventualities, and we will rule nothing out.”

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The car industry has already learned its fate, with a 25 per cent tariff on vehicles sent to the US – something which could cost an estimated 25,000 jobs in the UK.

Intensive talks on a UK-US economic deal are not expected to be enough to spare British exporters from Trump’s tariff plans.

The imposition of tariffs will make British goods more expensive in the US, which is likely to reduce demand.

Economists at the Office for Budget Responsibility have warned that US tariffs could eliminate Chancellor Rachel Reeves’s “headroom” against her day-to-day spending plans.

This would require her to make more cuts or hike taxes to meet the rules she has set herself.

The tariffs could knock up to one per cent off the size of the UK economy if there is a full-blown trade war with the UK retaliating to Trump’s measures.

Although a deal will not be reached before Trump’s announcement, UK negotiators are pursuing an agreement with the US focused on technology.

Such a deal could include possible changes to the digital services tax – which imposes a two per cent levy on the revenues of several major US tech companies – in exchange for a carve-out from the tariffs.

Starmer did not deny that changes to the digital services tax are being considered.

Retaliatory tariffs from the UK are not expected immediately, as efforts focus on striking a deal with the White House.

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