Trump tariffs latest: Starmer warns world as we knew it has gone – while EU readies retaliatory measures – UK Times

Elon Musk has revealed hoped for a “zero-tariff zone” in talks with Italian far-right leaders at a conference on Saturday.

The Tesla boss spoke to Italy League leader Matteo Salvini – the deputy prime minister of Giorgia Meloni’s conservative government.

Musk said he hoped the US and Europe could create “a very close, stronger partnership” and reach a “zero-tariff zone,” Sky News reported.

He added that ideally there will be a “zero-tariff zone in the future with a free trade zone between Europe and North America.”

India will not retaliate against US President Donald Trump’s 26 per cent tariff on imports from the Asian nation, an Indian government official said.

Prime Minister Narendra Modi’s administration has looked into a clause of Trump’s tariff order that offers a possible reprieve for trading partners who “take significant steps to remedy non-reciprocal trade arrangements”, said the official, who declined to be named as the details of the talks are confidential.

New Delhi sees an advantage in being one of the first nations to have started talks over a trade deal with Washington.

India has joined nations like Taiwan and Indonesia in ruling out counter tariffs.

India and the US agreed in February to clinch an early trade deal by autumn 2025 to resolve their standoff on tariffs.

Economy Candy’s shelves brim with sweets from around the world – gummies from Germany, lollipops from Spain, chocolates from Japan and a panoply of candies from across the U.S.

Standing amid it all, columns of bright jellybeans to his left and exotic Kit Kats to his right, owner Mitchell Cohen is quick with his assessment of how many of this shop’s 2,000-plus items are affected by the historic round of tariffs announced by President Donald Trump.

“I think all of them,” Cohen says at his store on New York’s Lower East Side.

Few corners of the American economy are untouched, directly or indirectly, by the sweeping tariffs being imposed by Trump. Even a little store like Economy Candy.

Pistachio Snickers bars are from India, now subject to 26 per cent tariffs, while passion fruit mousse Snickers are from Portugal, now under the 20 per cent European Union levies.

Read more by Matt Sedensky here:

Indonesia will not retaliate against US president Donald Trump’s 32 per cent trade tariff on Southeast Asia’s largest economy, its senior economic minister said on Sunday in the government’s first response to the levy.

Chief Economic Minister Airlangga Hartarto said in a statement that Indonesia would pursue diplomacy and negotiations to find mutually beneficial solutions after Mr Trump announced sweeping global tariffs on Wednesday.

“The approach was taken by considering the long-term interest of bilateral trade relation, as well as to maintain the investment climate and national economic stability,” Mr Airlangga said, adding that Jakarta will support potentially impacted sectors, such as apparel and footwear industry.

Mr Trump’s tariff on Indonesia, one of six hard-hit Southeast Asian countries, is set to take effect on Wednesday.

Sir Keir Starmer will be outlining more detail about support for British industry and the economy in the wake of Donald Trump’s tariffs, a Treasury minister has said.

The prime minister has said the government is “ready to use industrial policy” to help shelter businesses from the fallout, as firms across the globe are grappling with how to deal with the new taxes.

Chief Secretary to the Treasury Darren Jones told Sunday With Trevor Phillips on Sky News that “we need to go further and faster in supporting British industry and the British economy”, adding Sir Keir will “be saying more about that this week”.

“There will be further announcements from the Prime Minister this week on support for British business, building off the engagement that we’ve been having with them over the last weeks and months,” he added.

Taiwan President Lai Ching-te said on Sunday that Taiwan will not impose reciprocal trade tariffs against the United States, but will remove trade barriers and Taiwanese companies will gradually increase their investments in the country.

The president made the comments at a meeting with Taiwanese executives.

Elon Musk has appeared to criticise the chief supporter of president Donald Trump’s tariffs Peter Navarro, the administrations trade adviser.

Senior White House aide Mr Navarro helped shape the president’s reciprocal tariff policy that tanked markets across the world.

Mr Musk responded to a video of Mr Navarro defending the tariff policy, posted to social media platform X. An X user had posted the video with a caption saying “Peter Navarro has a PhD in economics from Harvard.”

Mr Musk replied, saying: “A PhD in Econ from Harvard is a bad thing, not a good thing. Results in the ego/ brains>>1 problem”.

Another user replied, insisting that Mr Navarro was correct in his defense, but Mr Musk rejected that and questioned Mr Navarro’s practical economic experience.

“He aint built s***,” Mr Musk wrote.

France’s prime minister François Bayrou has estimated that the tariff increases imposed by US president Donald Trump could cost France “more than 0.5 per cent of GDP”.

In an interview with Le Parisien, Mr Bayrou said that “the risk of job losses is absolutely significant, as is that of an economic slowdown and a halt to investment”.

“The destablisation he has created will weaken the global economy for a long time to come,” he added.