Thank you for joining me in Downing Street today. 

Last night, the President of the United States, acted for his country. That is his mandate. 

Today, I will act in Britain’s interests, with mine. 

I understand how important this is for your business as it is for the British people. 

So, we move now to the next phase of our plan. 

Decisions we take in the coming days and weeks, will be guided only by our national interest. In the interest of our economy. In the interests of the businesses around this table. 

In the interests of putting money in the pockets of working people. Nothing else will guide me. That is my focus. 

Clearly, there will be an economic impact from the decisions the US has taken both here and globally.   

But I want to be crystal clear – we are prepared. 

Indeed, one of the great strengths of this nation is our ability to keep a cool head. 

I said that in my first speech as Prime Minister and that is how I govern. 

That is how we have planned and that is exactly what is required today. 

Nobody wins in a trade war. That is not in our national interest. 

And we have a fair and balanced trade relationship with the US. 

Negotiations on an economic prosperity deal, one that strengthens our existing trading relationship – they continue, and we will fight for the best deal for Britain. 

Nonetheless, I do want to be clear I will only strike a deal if it is in the national interest and if it is the right thing to do for the security of working people. 

Protects the pound in their pocket, that they work so hard to earn for their family. 

That is my priority. That is always my priority. 

So – today marks a new stage in our preparations.

We have a range of levers at our disposal, and we will continue our work with businesses across the country to understand their assessment of these options. 

As I say – our intention remains to secure a deal.

But nothing is off the table.

We have to understand that just as with defence and security, so too for the economy and trade we are living in a changing world. 

Entering a new era. We must rise to this challenge.  

That is why I have instructed my team to move further and faster on the changes I believe will make our economy stronger and more resilient. 

Because this government will do everything necessary to defend the UK’s national interest. 

Everything necessary to provide the foundation of security that working people need to get on with their lives. 

That is how we have acted – and how we will continue to act. 

With pragmatism. Cool and calm heads. 

Focused – on the national interest.