Keir Starmer declared yesterday that we’re now living “in a completely new world.” He’s not wrong; Donald Trump has cut to shreds the established economic order and flung the pieces into the air. At this stage, where those pieces will land is anyone’s guess.

So, Starmer is right to sense a moment. But what will he do with it? The government’s immediate response to the tariffs was the correct one. Knee-jerk retaliatory measures would have been disastrous, and Starmer’s talk of “cool heads”........

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