The Observer view on Trump’s tariffs: Starmer faces his greatest test as prime minister | Observer editorial

Labour faces tough choices on its economic strategy. It must be guided more by its progressive values rather than political expediencyThe market reaction to Donald Trump’s announcement last Wednesday that he would be levying punitive tariffs on imports from the rest of the world was immediate: US stock markets experienced their worst single-day decline since Covid. The long-term implications will depend on how permanent Trump’s reshaping of the global economic order turns out to be.