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The era of globalization as we know it 'has come to an end', says British Chancellor of the Exchequer, Darren Jones.
Speaking to Laura Kuenssberg on her BBC politics programme on Sunday, Jones said people should prepare for things to get tougher in the global economy.
"Globalization is 'over' after the new tariffs," he said. Asked if the era of fast or cheap fashion was over, Jones said: "Yes, it is. Globalization, as we have known it for the last few decades, is over."
"It is in the best interests of the British economy and workers to reach trade deals across the line," he said, referring to expected developments after the tariffs were announced.
Jones said the government believes a deal with Trump on tariffs can be reached, with talks ongoing. "We hope to make a deal," Jones said, adding that "we have a better outcome than other comparable countries as a result of our diplomacy."
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