British Chief Secretary to the Treasury, Darren Jones, has said the era of globalisation ‘has come to an end’.
He told BBC Sunday Politics programme that people should be prepared for things to be tougher in the global economy.
He made the statement in the wake of the new tariffs by the President of the United States, Donald Trump, which is still generating global reactions.
Asked if the era of “cheap fast-fashion or cheap TVs” was over, Jones said: “Yeah, it’s ended.
He added, “Globalisation, as we’ve known it for the last number of decades, has come to an end.
It is in the best interest of the British economy and workers to get trade deals across the line.
Jones said the government thinks a deal with Trump on tariffs can be reached, with talks ongoing.
We’re hoping to do a deal,” Jones said, adding, “We have a better outcome than other comparable countries as a consequence of our diplomacy.
Jones said the UK must be “strong and resilient” and that the government plans to invest in the domestic economy.
