British Prime Minister Keir Starmer held a conversation with Japanese Prime Minister Shigeru Ishiba, where both leaders expressed strong opposition to escalating trade tensions, stating that a trade war benefits no one.

Their joint stance comes as the United States maintains a 10 per cent tariff on imports from most countries and imposes a 25 per cent tariff specifically targeting steel, aluminium, and car parts, according to a report from Xinhua news agency.

The controversial new wave of US tariffs has triggered global market volatility, drawing backlash from several nations and attracting criticism from economists and investors alike.

According to the Financial Times, Starmer acknowledged that the US is unlikely to lift the blanket 10 per cent tariff on British goods anytime soon. He is, however, lobbying to eliminate the steep 25 per cent tariff placed on British cars.

British economists have cautioned that the ongoing uncertainty, alongside declining exports and increasing operational costs, could dampen growth and employment across vital UK industries.

Meanwhile, Japan announced plans to dispatch Economic Revitalisation Minister Ryosei Akazawa to Washington for tariff talks as early as next week.

US President Donald Trump reaffirmed on Thursday that any trading partners failing to reach a new trade deal with the US by July 9—when the current 90-day negotiation window closes—will be subject to the originally proposed reciprocal tariff rates.