London: The popular support of US President Donald Trump's tariffs signifies the end of globalization and the start of a "new era," the office of UK Prime Minister Keir Starmer said on Sunday.

According to Namibia Press Agency, "Trump has done something that we don't agree with but there's a reason why people are behind him on this. The world has changed, globalisation is over and we are now in a new era. We've got to demonstrate that our approach, a more active Labour government, a more reformist government, can provide the answers for people in every part of this country," Starmer's office stated in a report quoted by The Times.

The newspaper reported that Starmer himself is expected to announce the end of globalization on Monday. This announcement follows Trump's declaration on Wednesday about the introduction of "reciprocal" tariffs on imports from other countries. The basic minimum rate will be 10%, but for each country, the tariff will be calibrated to be half of what they charge companies importing US goods. According to Trump, this move will be a "declaration of economic independence" for the United States and is intended to use "trillions and trillions of dollars" to pay off the national debt.