In the last few weeks, an economic storm has been unleashed that poses a profound threat to global trade. We have witnessed the imposition of tariffs at previously unheard-of levels and seen financial markets in turmoil. Coming so soon after the battering of the pandemic – and at a time when the world economy remains fragile – the fallout will inevitably impact global cities like London, and the whole of the UK.
It’s why Labour prime minister Keir Starmer and chancellor Rachel Reeves are right to insist that cool and calm heads must prevail, and that all options should remain on the table in dealing with this crisis. Their mission and my mission for London is to focus on economic growth, and whatever the volatility and upheaval of the next few weeks, protecting our economy and living standards must continue to be the priority.
