Nigel Farage takes brutal swipe at pal Donald Trump by likening him to ex-PM Liz Truss over tariffs
NIGEL Farage has warned Donald Trump’s tariff spree was “too much, too soon” – even likening it to Liz Truss’ economic meltdown.
In a rare criticism of the US President, the Reform UK leader said the violent market reaction left the White House no choice but to back down.
Mr Trump has given a 90-day reprieve for countries hit by higher levy rates above the blanket 10 per cent baseline which is still in place.
However he has escalated a trade war with China by imposing eye-watering 145 per cent import duties.
Asked if the President would emerge “chump or champion” from his tariff gambit, Mr Farage said it “remains to be seen”.
He told LBC: “I think Trump did too much too soon. Rather like Liz Truss did a couple of years ago.
“I’ve never in my life before seen stock markets fall quickly and bond markets fall at the same time.”
In 2022 then-PM Ms Truss notoriously sent markets into freefall by announcing sweeping tax cuts alongside spending increases.
She resigned from No10 after 49 days and is the shortest-serving premier in British history.
Mr Farage – a friend of Mr Trump – said there was “little doubt” Treasury Secretary Scott Bessent intervened to urge the President to pull back.
Trillions were wiped off global stock markets this week as the tariff blitz came into effect.
Investors rallied slightly yesterday when Mr Trump announced a 90-day pause, admitting people had been getting “yippy” about the trade turmoil.
However markets slumped again as the tit-for-tat between America and China intensified.
Beijing today announced it was retaliating again with a 125 per cent tariff on imports from the US.
The trade war between the planet’s two biggest economies threatens a global downturn.
Britain has been subject to the lowest 10 per cent tariff rate, while Sir Keir Starmer is desperately trying to secure a deal with the President.
Pressed on whether the UK’s soft stance has left us with no edge, Sir Keir said: “I don’t think having a strong relationship with the US has given us no advantage whatsoever.
“We have got a very strong relationship on defence, security, intelligence-sharing. No two countries are as closely aligned as ours.”
When grilled that most nations now face the same tariff rate as the UK, Sir Keir added: “Of course we are continuing to talk to the US about how further we can mitigate the impact of the tariffs. But a trade war is in nobody’s interest.”
Before pausing tariffs, Mr Trump joked at a Republican Party event that countries were “kissing my ass” to hold trade deal talks.
Asked if he was comfortable with this language, Sir Keir said it was important to maintain a “calm and pragmatic approach” to negotiations.